[Update: October 21, 2022] Revised release date of version 35 of the PTT is November 7.
The release of the new version (Version 35) of the Property Transfer Tax (PTT) web-based return has been deferred until November 7, 2022.
Web Filing versions of the PTT Return electronically signed before November 7 will be accepted until November 20. Previous versions (Version 34) of the return that are not electronically signed before November 7 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.