Ministry of Finance Announces Updated Property Tax Form V. 28 in Effect February 21, 2017

March 1, 2017

Please note the following information from the BC Land Title & Survey Authority:

The Ministry of Finance has authorized a new Property Transfer Tax (PTT) form (version 28) effective February 21, 2017. The form has been updated due to a change in the First Time Home Buyers program threshold amount, and is available for download through Dye & Durham’s website. See the Ministry of Finance announcement.

IMPORTANT: ONLY VERSION 28 OF THE PROPERTY TRANSFER TAX FORM WILL BE ACCEPTED EFFECTIVE MARCH 10, 2017.

To facilitate the transition, if a PTT form version 27 has been executed by the purchaser prior to February 21, 2017, and the purchaser is not claiming the First Time Home Buyers exemption, the signed PTT Form version 27 can be submitted electronically with a copy retained in your files.

For purchasers claiming the First Time Home Buyers exemption, the PTT form version 28 must be submitted electronically starting February 21, 2017.

Other updates have been included in the PTT form version 28:

  • The links to information and instruction guides have been re-activated.
  • The decimal issue has been resolved.

Please refer to the Help instructions for PTT form filing information.

If you encounter any issues with completing the Property Transfer Tax form, please contact the Ministry of Finance Property Transfer Tax Helpline at 1-888-355-2700 (toll free within Canada), or visit the Province’s Property Transfer Tax website for more information.

If you have any questions or require assistance kindly contact Dye & Durham’s Real Estate Support Services department at [email protected] or 604-257-1810.

 

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