Workers coming to BC through the BC Provincial Nominee Program (PNP) can now be exempt from the additional property transfer tax on foreign buyers. This will help ensure BC continues to attract skilled works and entrepreneurs across all sectors of the province’s diverse economy, including the growing tech sector.
The additional property transfer tax exemption will be available to BC provincial nominees who purchase a principal residence in Metro Vancouver. Existing BC provincial nominees who purchases a principal residence on or after August 2, 2016 will be able to apply for a retroactive exemption. Application forms are available on the government’s website.