Bulletin Province of British Columbia
Ministry of Finance and Corporate Relations
Parliament Buildings, Victoria, British Columbia, V8V 2L9


Property Transfer Tax Act


March 28, 1995

1995 Amendments to the Property Transfer Tax Act

This bulletin outlines changes to the Property Transfer Tax Act introduced by the Honourable Elizabeth Cull, Minister of Finance and Corporate Relations, under the Budget Measures Implementation Act, 1995 (Bill 2). The bill provides further tax relief in the following areas:

Circumstances Under Which a First Time Home Buyers' Exemption May be Retained

Effective March 29, 1995, eligibility for exemption under the First Time Home Buyers' Program will no longer be denied in the following situations.

Transfer of a Bankrupt's Principal Residence

Effective March 29, 1995, a trustee in bankruptcy may transfer land which was the principal residence of the bankrupt immediately before the bankruptcy to the bankrupt's spouse or former spouse exempt from property transfer tax provided no consideration is paid for the transfer by or on behalf of the transferee. Use exemption code 12 when claiming this exemption.

Transfer of Land to The Provincial Capital Commission

Effective March 29, 1995, transfers of land to the Provincial Capital Commission are exempt from property transfer tax where the land transferred is used solely for park purposes. Use exemption code 44 when claiming this exemption.

Transitional Provisions

Persons who have, before March 29, 1995:

may apply to the Administrator for a refund of the tax paid on or before March 31, 1996.

Where a request for a refund or an exemption is denied, a person has 90 days from the date of the letter advising that the refund request has been denied, or date of the Notice of Assessment, to file a Notice of Objection with the Minister appealing the decision.


This bulletin is presented as an aid to understanding the statutory amendments proposed by the Minister, and is not intended to replace the need to consult the legislation for possible application to a particular fact pattern. Where there may be a conflict between this bulletin and the legislation, the legislation prevails.

For further information on these changes to the Act please contact:

Budget '95 (Province of B.C.)

This will take you back to the Finance and Corporate Relations Homepage

If you have questions or comments about content please contact: Communications