Newly Built Home PTT Exemption
Also known as: Newly Built Home exemption · NBH exemption
A BC Property Transfer Tax exemption for newly constructed homes with FMV at or under $1,100,000, with linear phase-out to $1,150,000.
The Newly Built Home Exemption provides full PTT relief on the purchase of a newly constructed dwelling whose fair market value is at or under $1,100,000 (raised from $750,000 effective April 1, 2024). Between $1,100,000 and $1,150,000 the exemption phases out linearly; above $1,150,000 no exemption is available.
The buyer must be a Canadian citizen or permanent resident and must occupy the home as their principal residence within 92 days of registration. The exemption is mutually exclusive with the FTHB exemption — a buyer who qualifies for both must elect one. Many first-time buyers of new construction find the Newly Built exemption more valuable because of the higher cap.
Related terms
- Property Transfer Tax — A provincial tax payable to the Province of British Columbia on the registered fair market value of any residential property title transfer, calculated using marginal-rate brackets.
- First Time Home Buyers' PTT Exemption — A BC Property Transfer Tax exemption for qualifying first-time home buyers — available for homes up to $835,000 fair market value: full exemption (no PTT) to $500,000, $8,000 off from $500,000 to $835,000, linear phase-out $835,000–$860,000.
- GST New Housing Rebate (BC) — A federal partial rebate of the 5% GST paid on a new owner-occupied home — full 36% rebate up to $350,000, phasing out linearly to zero at $450,000 (the 1991-set thresholds have not been indexed).
- Closing Day (Completion) — The contractually-stipulated date on which the buyer's lawyer registers the title transfer at the BC Land Title Office and the purchase funds are released to the seller — distinct from the possession date (typically completion + 1 day) and the adjustment date (the date utilities/property tax/strata fees are prorated).
See also
Use any of these formats. Codex content is licensed under CC BY 4.0 — attribution required.
@misc{bronsonjob-bc_ptt_newly_built_exemption,
author = {Job, Bronson},
title = {{BC Newly Built Home PTT exemption}},
howpublished = {BC Real Estate Codex},
year = {2026},
url = {https://www.bronsonjob.com/codex#bc.ptt.newly_built_exemption},
urldate = {2026-05-08},
note = {Fact ID: bc.ptt.newly_built_exemption, version 2.}
}Job, B. (2026). BC Newly Built Home PTT exemption. *BC Real Estate Codex*. Retrieved 2026-05-08, from https://www.bronsonjob.com/codex#bc.ptt.newly_built_exemption
BC Newly Built Home PTT exemption — Bronson Job PREC, BC Real Estate Codex (2026-05-08). https://www.bronsonjob.com/codex#bc.ptt.newly_built_exemption
Fact id: bc.ptt.newly_built_exemption · v2 · machine-readable: /api/v1/facts/by-id/bc.ptt.newly_built_exemption.json
Verified sources (1)· re-verified 2026-05-08Click to expand
Every claim on this page is sourced to a primary government, regulator, or industry-association URL. We re-verify quarterly; the verification dates below show when each source was last confirmed against the live government page.
- BC Governmentretrieved 2026-05-08Newly Built Home Exemptionhttps://www2.gov.bc.ca/gov/content/taxes/property-taxes/property-transfer-tax/exemptions/newly-built-home-exemption
bc.ptt.newly_built_exemption · v2View in Codex →License: This definition is licensed under CC BY 4.0. Cite as: "Newly Built Home PTT Exemption", BC Real Estate Glossary by Bronson Job, https://www.bronsonjob.com/glossary/newly-built-home-exemption.
