In British Columbia first-time home buyers are eligible to receive a full land transfer tax refund on homes purchased for $500,000 or less. On homes purchased between $500,000 – $525,000, the first-time home buyer will be eligible for a partial refund.
Also, you may be fully exempted if you are purchasing a brand new home larger than 0.5 hectares with a market value of less than $750,000. If your newly built home is between $750,000 – $800,000 then you may receive a partial exemption.
$5,000 of the mortgage amount, is due. Alberta or it\’s municipalities do not offer a rebate for first-time home buyers.