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Please be aware that LTSA’s Land Title Office front counters are open by appointment only to protect the safety of our customers and staff. Customers can contact the Customer Service Centre on 1-877-577-LTSA (5872) to book an in-person visit.

Version 35 of the Property Transfer Tax (PTT) Return

The Ministry of Finance has announced a new version (Version 35) of the Property Transfer Tax (PTT) Return will be in effect on October 17.  Version 34 is set to retire on October 23.

Web Filing versions of the PTT Return electronically signed before October 17 will be accepted until October 23. Previous versions (Version 34) of the return that are not electronically signed before October 17 will require a new return for submission. 

The following changes will be introduced to Version 35 of the Web-based PTT return:

Transferees

  • First-time home buyers will be required to provide a start date for each of their previous addresses in BC during the year immediately before the date of registration.
  • If a part interest is transferred from related individuals, you will no longer need to use the ADMIN code to claim an exemption. Instead, select the appropriate exemption code from the drop-down list.

Property Description

  • Correcting transaction will be added to the Transaction Type list to allow proper filling of transfers to correct a conveyance error.

Tax Calculation

  • Exemption of General PTT (override) will be available for part interests transferred from related individuals. This override is available to claim a partial exemption.
  • Additional Property Transfer Tax (override) is only available for transactions that are applicable to ATT.

Attachment

  • Supporting documents to explain calculation of the fair market value of each parcel will be required if a subdivision exemption is claimed.

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.

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