How much is PTT on a $1M Coquitlam home?

First $200K × 1% = $2,000. Next $800K × 2% = $16,000. Total: $18,000 PTT.

Do I pay PTT on a new construction Coquitlam home?

Yes — PTT applies to all property transfers including new construction, unless an exemption applies.

Can I combine first-time buyer + new build exemptions?

No — the two PTT exemptions are mutually exclusive on the same purchase. You claim one or the other.

What if I am buying with a partner who is not a first-time buyer?

The exemption is allocated proportionally. If you (FTB) and your partner (not FTB) buy 50/50, you get half the exemption; your partner gets none.

Is PTT deductible from income tax?

Generally no — PTT is a capital cost added to the property's adjusted cost base. Reduces capital gains tax when you eventually sell, but not deducted on annual income.

At closing, as part of the lawyer's Statement of Adjustments. Lawyer remits to BC government.

Is there a PTT exemption for transferring property to a family member?

Limited exemptions: principal residence transferred to spouse, related corporation transfers, certain inheritance situations. Confirm with a lawyer; most family transfers do trigger PTT.

Does PTT apply to vacant land in Coquitlam?

Yes — PTT applies to all property transfers including vacant land.

How does the foreign buyer 20% PTT work?

Applies to foreign nationals or foreign-controlled corporations buying residential property in Greater Vancouver including Coquitlam. The 20% is on top of the standard PTT brackets — so a foreign buyer of a $1M Coquitlam home pays $18,000 (standard) + $200,000 (foreign) = $218,000 PTT.

Are there any ways to legally reduce my Coquitlam PTT?

Largest lever: first-time buyer exemption if eligible. Second lever: new-build exemption for qualifying new construction under $800K. Third: structure the purchase correctly (e.g., spouse who is FTB takes the share that maximizes exemption). Consult a tax accountant or real estate lawyer.

Coquitlam · Taxes

BC Property Transfer Tax — the Coquitlam buyer's guide.

BC's Property Transfer Tax (PTT) is the largest closing-cost line item for most Coquitlam buyers. On a $1.5M Coquitlam purchase, PTT is $28,000. On a $3M purchase, PTT is $108,000. Here are the brackets, exemptions, and how to minimize.

Book a Strategy Call Call Craig — 604-202-6092

Taxes · Coquitlam

BC Property Transfer Tax — every bracket and exemption.

PTT is paid by the buyer to the BC Government at the time of property transfer (closing). It is calculated on the fair market value of the property using the published bracket schedule.

Bracket 1: 1% on first $200,000

Maximum: $2,000.

Bracket 2: 2% on $200,001 to $2,000,000

Maximum on this bracket: $36,000. Plus the $2,000 from Bracket 1 = $38,000 max for a $2M purchase.

Bracket 3: 3% on $2,000,001 to $3,000,000

Add $30,000 to the prior brackets for a $3M purchase = $68,000 PTT.

Bracket 4: 5% on the portion above $3,000,000

Plus prior brackets. A $4M purchase = $108,000 + $50,000 = $158,000 PTT.

First-time buyer exemption

Full exemption on qualifying purchases up to $835,000. Partial exemption $835,001 to $860,000. Above $860,000 no FTB exemption.

Newly-built home exemption (separate from FTB)

Full exemption on qualifying new builds under $750,000; partial up to $800,000.

Foreign buyer additional tax

Additional 20% PTT applies to foreign nationals/foreign-controlled corporations purchasing residential in specified regions including Greater Vancouver. Coquitlam is included.

Talk to a Coquitlam REALTOR® who knows.

Craig Johnston is a 50-year Coquitlam resident and licensed REALTOR® at The MACNABS, Royal LePage Elite West. Top 1% Greater Vancouver. Talk through your specific situation — no pressure, no obligation.

Book a Strategy Call Call 604-202-6092 Email Craig