For budgeting purposes only. Actual amounts depend on your specific transaction, eligibility, and rules in effect at completion date. Confirm figures with your realtor, lawyer, or accountant before making financial decisions.
GST on Presales & New Homes in BC
Federal Goods and Services Tax (GST) of 5% applies to all newly constructed and presale properties in BC. GST is not payable on resale homes.
2025 First-Time Buyer GST Rebate: For purchase agreements signed on or after May 27, 2025, first-time buyers of new construction and presale properties may qualify for a full rebate of the 5% GST on homes up to $1,000,000 — saving up to $50,000. A partial rebate applies between $1,000,000 and $1,500,000. No rebate is available above $1.5M.
GST Rebate Thresholds (2025 Rules)
Purchase Price
Rebate
Max Saving
Up to $1,000,000
Full 5% rebated
Up to $50,000
$1,000,001 – $1,499,999
Partial (linear phase-out)
Decreasing from $50,000
$1,500,000 and above
No rebate
$0
To qualify: the home must be your primary residence, you must be a Canadian citizen or permanent resident, and the purchase agreement must be signed on or after May 27, 2025.
Property Transfer Tax (PTT) in BC
BC's Property Transfer Tax is a provincial tax payable on all property transfers, including new builds and presales. It is due at the time of completion.
Standard PTT Rates
Property Value
Rate
Tax on That Portion
First $200,000
1%
Up to $2,000
$200,001 – $2,000,000
2%
Up to $36,000
$2,000,001 – $3,000,000
3%
Up to $30,000
Above $3,000,000
5%
On any amount above $3M
Newly Built Home PTT Exemption
Buyers of newly built homes (including presales) may qualify for a full or partial PTT exemption — available to first-time and repeat buyers.
Purchase Price
Exemption
Up to $1,100,000
Full exemption — $0 PTT
$1,100,001 – $1,149,999
Partial (phases out linearly)
$1,150,000 and above
No exemption — full standard PTT
Eligibility: Canadian citizen or permanent resident, must use the property as your principal residence within 92 days of registration. Available to both first-time and repeat buyers of newly built homes. (Effective April 1, 2024.)
Frequently Asked Questions
How much is GST on a new presale home in BC?
GST on a new or presale home in BC is 5% of the purchase price. On a $750,000 presale, that's $37,500 before any rebates. If you're a first-time buyer and the agreement was signed after May 27, 2025, the rebate fully cancels that amount on homes up to $1,000,000.
Do I pay GST if I buy a presale but don't plan to live in it?
Yes — GST applies to all new and presale homes regardless of whether they'll be owner-occupied or rented. However, the first-time buyer rebate is only available if the home is your primary residence. Investors pay the full 5% with no rebate.
What is the maximum GST rebate for a first-time buyer in 2025?
The maximum 2025 GST rebate is $50,000 (full 5% on a $1,000,000 home). This rebate phases out between $1,000,000 and $1,500,000, and disappears entirely above $1.5M.
How is Property Transfer Tax calculated in BC?
PTT is calculated in tiers: 1% on the first $200,000, 2% on $200,001–$2,000,000, 3% on $2,000,001–$3,000,000, and 5% on any amount above $3,000,000. The calculator above shows the exact breakdown for any price you enter.
Can I get a PTT exemption on a newly built home or presale?
Yes — buyers of newly built homes (including presales) may qualify for the Newly Built Home PTT Exemption. For properties at or under $1,100,000, the full PTT is waived ($0 payable). The exemption phases out between $1,100,001 and $1,149,999, and at $1,150,000 and above no exemption applies — you pay the full standard PTT.
Is PTT based on the purchase price or assessed value?
For most transactions, PTT is calculated on the greater of the purchase price or the assessed value. For presales, it is typically calculated on the purchase price stated in the contract.
Do I pay GST and PTT at the same time?
Both are due at completion (when the title transfers and you get your keys). Your lawyer or notary collects both amounts and remits them. On a presale, this is typically 2–5 years after signing, at the original contracted price.
Are these figures included in my mortgage?
No — GST and PTT must be paid in cash at completion and cannot be included in your mortgage. Plan to have both amounts available as liquid funds on top of your down payment.