Foreign Buyers Tax

The BC Foreign Buyers Tax refers to a 20% tax imposed on top of the Property Transfer Tax when a non-Canadian citizen or non-permanent resident of Canada acquires a residential property within Metro Vancouver.

Who does the BC Foreign Buyers Tax apply to?

The BC Foreign Buyers Tax is applicable to foreign nationals, foreign corporations, or taxable trustees. It is mandatory to pay the additional property transfer tax if the residential property transfer occurs within specific areas of BC, including Metro Vancouver.

Exemptions: 

The BC Foreign Buyers Tax offers exemptions in three primary categories:

Disclaimer: Specialized tax advice falls outside the expertise of a Realtor. Property owners are advised to consult with their local municipal government or a qualified tax professional to obtain specific details regarding their property tax obligations.