Government Announces IMMEDIATE Changes to Property Transfer Tax

Budget 2018 announced changes to Property Transfer Tax that come into effect on February 21, 2018, including:

  • Property transfer tax rate on the value of residential properties above $3 million increased.
  • Additional property transfer tax rate increased and area expanded.
  • The Property Transfer Tax Act is amended to enhance administration and information sharing.
  • The limitation period for property transfer tax assessments is extended to six years.
  • Additional information is collected on property transfer tax returns, including tax identification numbers for individuals using bare trusts.
  • An administrative monetary penalty for non-compliance is introduced.
  • The general anti-avoidance rule is extended to the entire Act.
  • Access to additional information on property transactions, including information in a multiple listing service database, is enabled.

You can find information about these changes at

Please contact Philip or Sandra if you have any questions or would simply like to discuss the impact of these changes.

2018-02-21T15:18:09+00:00February 21st, 2018|


604-787-2114  (cell)


778.833.1169 (cell)

Lee DuMoulin , REALTOR®

604-720-4375 (cell)

Elvina Savage (Hui), REALTOR®

604-339-2230 (cell)