As announced on November 12, the Ministry of Finance has authorized a new version (Version 34) of the Property Transfer Tax (PTT) Return that is now in effect. Version 33 is set to retire on November 28, 2021.
Web Filing versions of the PTT Return 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, Property Value Information will be required only if the additional property transfer tax, the further tax on residential properties over $3,000,000, or certain exemptions apply. Fair market value of the entire property will still be required for all taxable transactions on the Property Description page of the return.
Refer to LTSA Help for information related to using the PTT return. For more information about PTT requirements, or if you have questions:
• Online: gov.bc.ca/propertytransfertax
• Toll free in BC: 1-888-355-2700 or 1-888-841-0090 (new)
• Email: pttenq@gov.bc.ca