March 18, 2017
The following changes have been introduced for the additional property transfer tax:
Foreign national individuals who have received confirmation under the B.C. Provincial Nominee Program may be eligible for an exemption from paying the additional property transfer tax Refund
Foreign national individuals who were confirmed as a B.C. Provincial Nominee between August 2, 2016 – March 17, 2017 and paid the additional property transfer tax may be eligible for a refund
Foreign national individuals who become a permanent resident of Canada or Canadian citizen within one year of the date the property transfer tax is registered with the Land Title Office may be eligible for a refund of the additional transfer tax Information sheets 2016-005 and 2016-006 have been retired and the information is now on our website http://www.gov.bc.ca/propertytransfertax.
A class action lawsuit argues this announcement will be good for their case.
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