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Exemptions

In addition to the First Time Home Buyers' Program, there are a number of exemptions that may apply to the transfer of property, exempting all or a portion of the transfer from Property Transfer Tax.

If you are claiming any of these exemptions, you need to file a Special Property Transfer Tax Return (FIN 579S) and use the exemption code provided in the respective bulletin.

If you are claiming more than one exemption, claim code 00 in the Special Property Transfer Tax Return, and attach a letter to the return with the details of the circumstances of the transfer.

A number of commonly claimed exemptions are outlined in Bulletin PTT 003, Property Transfer Tax Exemptions:

  • net interest passing
  • transfers involving joint tenants and tenants in common
  • transfers involving an agreement for sale
  • transfers following bankruptcy
  • transfers resulting from marriage breakdowns
  • transfers to registered charities (also see Bulletin PTT 025)
  • transfers under the Veterans' Land Act (Canada)
  • transfers by which property escheats, reverts or forfeits to the Crown, or where the property is returned
  • transfers to municipalities and other local governments

There are also a number of bulletins regarding specific exemptions and their limitations, as listed below:

Transfers of property between related individuals or other family members:

  • Exemptions for the Transfer of a Principal Residence (PTT 005)
  • Exemptions for the Transfer of a Recreational Residence (PTT 007)
  • Exemptions for Transferring a Family Farm (PTT 008)
  • Exemptions for Transfers to and from a Family Farm Corporation (PTT 009)

Subdivision of property:

  • Exemptions for Transfers in the Course of Subdivision
    (PTT 006)

Transfers to and from trust companies or the Public Trustee:

  • Exemption for Transfers to and from Trust Companies or the Public Trustee
    (PTT 010)

Transfers to correct conveyancing errors:

  • Exemption for Transfers Correcting Conveyancing Errors
    (PTT 011)

Transfers in respect of an amalgamation:

  • Exemption for Transfers in Respect of an Amalgamation
    (PTT 012)

Leases and options to lease of less than 30 years:

  • Application of the Act to Multiple Leases in Respect of the Same Land (PTT 015)

Transfers of reserve or surrendered land, or to the Nisga'a Nation:

  • Application of the Act to Status Indians and Indian Bands
    (PTT 017)

Transfers on behalf of minors:

Exemptions to Minors for Transfers to and from the Public Guardian and Trustee (PTT 026)

 

  
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