- \n
- No property transfer tax on the first $500,000<\/strong> of the price \u2014 a saving of up to $8,000<\/strong>;<\/li>\n
- The full saving applies up to a price of $835,000<\/strong>; it phases out between $835,000 and $860,000 and is gone above that;<\/li>\n
- You must have never owned a principal residence anywhere in the world, be a Canadian citizen or permanent resident, move in within 92 days and live there at least a year. If only one spouse qualifies, the exemption is halved.<\/li>\n<\/ul>\n
For how PTT itself is calculated, see our PTT calculation guide<\/a>.<\/p>\n
![\"Kitsilano](\"https:\/\/jackrealty.ca\/en\/wp-content\/uploads\/2026\/09\/browser-download-20260930T032123.399875938Z-0-Kitsilano_Beach_Park_Vancouver__42912894340_-scaled.jpg\")
Kitsilano Beach Park, the neighbourhood's front yard<\/figcaption><\/figure>\n 2. Newly Built Home PTT Exemption (any buyer)<\/h2>\n
- \n
- Buy a brand-new home<\/strong> as your principal residence: full PTT exemption up to $1,100,000<\/strong>, phasing out to $1,150,000;<\/li>\n
- Available to any buyer, not just first-timers \u2014 but it cannot be combined with the first-time buyer exemption on the same purchase. On new construction, this one almost always wins.<\/li>\n<\/ul>\n
3. The federal First-Time Home Buyers\u2019 GST Rebate (new for 2026 \u2014 the big one)<\/h2>\n
- \n
- Enacted in March 2026, this rebate returns 100% of the 5% GST<\/strong> on new homes for first-time buyers \u2014 up to $50,000 back<\/strong> on a $1,000,000 home;<\/li>\n
- It phases out between $1,000,000 and $1,500,000;<\/li>\n
- Applies to purchase agreements signed on or after March 20, 2025, including presales; details as published by the CRA.<\/li>\n<\/ul>\n
Combined effect: on a $950,000 new home, a first-time buyer can pay zero PTT<\/strong> (newly built exemption) and recover the entire ~$47,500 of GST<\/strong> \u2014 roughly $65,000 saved, the equivalent of finding an extra down payment.<\/p>\n
4. FHSA \u2014 First Home Savings Account<\/h2>\n
- \n
- Contribute up to $8,000 per year, $40,000 lifetime<\/strong>; contributions are tax-deductible and qualifying withdrawals are tax-free;<\/li>\n
- Two qualifying spouses = $80,000<\/strong> of combined room;<\/li>\n
- The account must be opened before you buy, and unused annual room carries forward \u2014 open it early, even with a small first deposit.<\/li>\n<\/ul>\n
5. Home Buyers\u2019 Plan (RRSP)<\/h2>\n
- \n
- Withdraw up to $60,000 per person<\/strong> from your RRSP tax-free for a qualifying home \u2014 $120,000 per couple;<\/li>\n
- Repay over 15 years (with a grace period before repayments start); missed repayments are taxed as income;<\/li>\n
- It stacks with the FHSA on the same purchase \u2014 the usual order is FHSA first, HBP for the rest.<\/li>\n<\/ul>\n
6. Smaller items not to leave behind<\/h2>\n
- \n
- Home Buyers\u2019 Amount<\/strong>: a $10,000 federal tax credit worth about $1,400 on a 2026 return, claimed at tax time;<\/li>\n
- Home Owner Grant<\/strong>: $570 off annual property tax in Metro Vancouver for owner-occupiers \u2014 apply after you move in;<\/li>\n
- Some municipalities waive minor fees for first-time buyers \u2014 worth a five-minute check.<\/li>\n<\/ul>\n
![\"Inside](\"https:\/\/jackrealty.ca\/en\/wp-content\/uploads\/2025\/12\/interior12-webp.webp\")
Inside a Vancouver home<\/figcaption><\/figure>\n Putting it together<\/h2>\n
Two first-time buyers purchasing a $950,000 new home in 2026: PTT $0 (saves ~$17,000), GST fully rebated (~$47,500), FHSA room $80,000 sheltered, HBP up to $120,000 more if their RRSPs hold it. The programs reward buyers who set accounts up before<\/em> they start shopping \u2014 which is why this conversation belongs at the very start of your search. Current new-home projects, with prices and developers, are in our pre-sale section<\/a>.<\/p>\n
I\u2019m Jack Zhu, a RE\/MAX Select Properties realtor focused on Vancouver\u2019s West Side. Buying your first home and want every program matched to your situation before you shop? Call 604-889-1640.<\/p>\n
General information only, not tax or legal advice. Program terms are as published by the BC Ministry of Finance and the CRA; confirm personal eligibility with your lawyer or accountant before relying on them.<\/p>\n","protected":false},"excerpt":{"rendered":"
First-time buyers in BC in 2026 have more money-saving tools than most people realize \u2014 a property transfer tax exemption, a brand-new full GST rebate on new homes, and the FHSA\u2019s tax-free savings room. Stacked properly, they are worth six figures. Here is the complete list, with the thresholds that decide who qualifies. 1. BC First-Time Home Buyers\u2019 PTT Exemption No property transfer tax …<\/p>\n","protected":false},"author":1,"featured_media":32628,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[15,16],"tags":[],"class_list":["post-32613","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-price","category-real-estate"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t
- Home Owner Grant<\/strong>: $570 off annual property tax in Metro Vancouver for owner-occupiers \u2014 apply after you move in;<\/li>\n
- Two qualifying spouses = $80,000<\/strong> of combined room;<\/li>\n
- Available to any buyer, not just first-timers \u2014 but it cannot be combined with the first-time buyer exemption on the same purchase. On new construction, this one almost always wins.<\/li>\n<\/ul>\n
- The full saving applies up to a price of $835,000<\/strong>; it phases out between $835,000 and $860,000 and is gone above that;<\/li>\n