Updated Property Transfer Tax return – with significant changes – now in effect

The BC Ministry of Finance has issued an updated Property Transfer Tax (PTT) Return 530 (version 29), in effect as of November 27, 2017.

You can download it from the Land Title and Survey Authority of BC’s Electronic Filing System accessed on myLTSA or at https://ltsa.ca/practice-information/land-title-forms.

This newest version contains significant changes, including new rules about exemptions, intended use of property (principal residence), residency status of vendor and vendor’s contact information, PID number, land title registration number, fair market value of property, first-time home buyers’ declaration and purchaser’s phone number.

It’s important that members become fully aware of these changes.

Read the new Tax Information sheet (2017-004). (Opens 3-page pdf)

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