The Ministry of Finance will be authorizing a new version (Version 34) of the Property Transfer Tax (PTT) Return form, effective November 21, 2021. Version 33 is set to retire on November 28, 2021.
Web Filing versions of the PTT Return form electronically signed before November 21 will be accepted until November 28, 2021. Previous versions (Version 33) of the return that are not electronically signed before November 21 will require a new return for submission.
Under Version 34, completion of the ‘Property Value Information’ fields will be required only if the additional property transfer tax, the further tax on residential properties over $3,000,000, and/or certain exemptions apply. Fair market value of the property will still be required for all taxable transactions in the ‘Property Description’ section of the form. Additional system updates will reduce input requirements for common data, provide improved help text, and clarify common questions related to the forms.
Refer to LTSA Help for information related to using the PTT return. For more information about PTT requirements, visit the ministry’s Information for Legal Professionals on Filing a Property Transfer Tax Return webpage. You can also find out what’s new or subscribe to receive email updates when information changes on the ministry’s website.