2% Transition Tax on new homes ends March 31, 2015

Posted on January 14th, 2015

March 31, 2015 is the last day the BC 2% Transition Tax will be collected.

The temporary tax applies to the sale of new homes that were 10% or more complete as of April 1, 2013.

If ownership and possession take place on or after April 1, 2015, the 2% tax will not apply given that the tax no longer exists on April 1.

If you are buying a new house and you close on or after April 1, 2015, you will not pay the tax.

Here is detailed information from the BC Government.