PTT Bulletin 012 Update

May 18, 2006

New Exemption for Amalgamations of British Columbia Societies

Transfer registrations received by the Land Title Office on or after February 22, 2006, resulting from the amalgamation of two or more British Columbia Societies, under Section 17 of the Society Act, are exempt from property transfer tax.  At the request of the administrator, the new society must provide a Certificate of Incorporation respecting the amalgamation.

This exemption parallels the existing exemption for registrations of transfers resulting from the amalgamation of two or more corporations under the Business Corporations Act and similar federal and provincial statutes.

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