Newly-Built Home Exemption Do I qualify for a newly-built home exemption in BC? To qualify for a newly-built home exemption, you must register the property land and improvement transfer at the Land Title Office after February 16, 2016, and you also must: Be a Canadian citizen or permanent resident (present your Social Insurance Number (SIN) or proof of permanent residency and your birthdate) The property also must: Be located in B.C. Only used as your principal residence Have a fair market value of $750,000 or less Be 0.5 hectares (1.24 acres) or smaller You may qualify for a partial exemption if the property: Has a fair market value greater than $750,000 and less than $800,000 Is larger than 0.5 hectares Houses another building other than the principal residence Our Platform is Designed With You in Mind! The newly-built home exemption reduces or waives the amount of property transfer tax you pay when buying a newly-built home. If you qualify for the exemption, you may be eligible for either a full or partial exemption from the tax. If you previously paid property transfer tax on vacant land and constructed a newly-built home on the land, you may be eligible for a refund. Get the lowest rate, plus additional benefits like no origination or processing fees. Find the lender that best suits your needs, from local lenders to major banks.Instead of just shopping at one bank, compare over 30 different lenders to choose one that best suits your needs.Available on Apple iOS and Android. Simply download our mobile app to start.All information submitted is secure, encrypted and only viewable by you.Apply with the help of a team member or our digital assistant. We make it fast and easy to apply!