Assumptions: Calculator created March 15th, 2011. HST calculated as 12% on Purchase Price,
calculated on new homes only. HST
rebate calculated as 71.43% reduction of 7% (provincial component) of
property value to a maximum rebate of $26,250. Property Transfer Tax (PPT) calculated as
1% on first $200,000, 2% on remaining amount.
First time home buyers are exempt when purchase price is below
$425,000. Partial exemption when
purchase price is between $425,000 and $450,000. Total Purchase cost is the sum of the
Purchase Price, Net BC HST, & Net Property Transfer Tax. For estimation purposes only, please
consult a professional to receive accurate and objective advice.