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First-Time Buyer Grant & Rebate Cheat-Sheet

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EZTOFIND.CA

Doug LeMaire, REALTOR®

Fraser Property Management Realty Services Ltd.

(604) 466-7021 · Brokerage

(604) 787-0851 · Direct

info@eztofind.ca

2026 EDITION · UPDATED FEB 2026

BC First-Time Buyer
Grants & Tax Rebates

Every program a first-time buyer in British Columbia can stack — up to $44,000+ in combined savings — with exact thresholds, eligibility, and how to claim.

SAMPLE SAVINGS · $750K PURCHASE

$44,410

Combined federal + BC savings for a qualifying first-time buyer

BC PTT Exemption	$13,000
HBP (2 buyers)	$120,000*
FHSA (5 yrs, 2 buyers)	$80,000*
Federal HBTC	$1,500
* HBP + FHSA are withdrawal capacity, not straight savings

✓ Who is a "first-time buyer" in BC?

Each program defines "first-time" differently. For the BC Property Transfer Tax exemption, you must be a Canadian citizen or permanent resident, have lived in BC ≥12 months (or filed 2 BC tax returns in 6 yrs), never owned a principal residence anywhere in the world, and never received this exemption before. For federal programs (HBP, FHSA, HBTC), you must not have owned a home you occupied in the current or previous 4 calendar years.

What's inside: BC Property Transfer Tax Exemption · Newly Built Home Exemption · Federal Home Buyers' Plan · First Home Savings Account · Home Buyers' Tax Credit · GST New Housing Rebate · BC Home Owner Grant · CMHC insurance rules · How to stack them all.

BC FIRST-TIME BUYER — GRANT & TAX REBATE CHEAT-SHEETPrepared by Doug LeMaire, REALTOR®

SECTION 1

British Columbia Programs

PROVINCIAL · PTT EXEMPTION

BC First-Time Home Buyers' Exemption (FTHB)

MAX SAVINGS

$13,000

Waives BC Property Transfer Tax on homes ≤ $835,000. Partial exemption phased out from $835,001 to $860,000. On a qualifying $750K purchase, you save the full PTT bill (~$13,000).

Who qualifies: Canadian citizen or PR · lived in BC ≥12 months OR filed 2 BC tax returns in last 6 yrs · never owned a principal residence anywhere · fair-market-value at or under the cap.

How to claim: Your notary or lawyer files the FIN 269 form at closing — the exemption is applied automatically. Bring proof of BC residency (driver's licence, BC Services Card).

PROVINCIAL · PTT EXEMPTION

Newly Built Home Exemption

MAX SAVINGS

$20,000

Full PTT exemption on newly built homes ≤ $1,100,000 (partial phased out to $1,150,000). Stackable with First-Time Buyers' Exemption only if the home also qualifies under FTHB — most new construction is used for one or the other.

Who qualifies: Home must be newly built (never previously occupied) · you'll use it as your principal residence for at least one year · fair-market-value at or under the cap.

How to claim: Notary files FIN 271 at closing. Keep the builder's Statement of Adjustments — CRA can request proof of new-build status up to 6 years later.

PROVINCIAL · ANNUAL GRANT

BC Home Owner Grant

MAX SAVINGS

$570-770/yr

Annual property-tax rebate: $570 in Metro Vancouver, Fraser Valley + Capital Region; $770 elsewhere in BC. Property must be your principal residence. Grant is reduced $5 for every $1,000 of assessed value above $2.15M threshold.

Who qualifies: Canadian citizen or PR · principal residence in BC · assessed value under $2.65M (Metro) or $2.85M (rest of BC).

How to claim: Apply online at gov.bc.ca/homeownergrant every year AFTER receiving the property tax notice (usually late May). Yes — you have to reapply annually.

BC FIRST-TIME BUYER — GRANT & TAX REBATE CHEAT-SHEETPrepared by Doug LeMaire, REALTOR®

SECTION 2

Federal Programs

FEDERAL · RRSP WITHDRAWAL

Home Buyers' Plan (HBP)

MAX SAVINGS

$60K per person

Withdraw up to $60,000 from your RRSP tax-free toward a first home. A couple can withdraw $120K combined. You must repay the amount over 15 years starting the 2nd year after withdrawal — missed repayments become taxable income.

Who qualifies: Must have not owned a home you occupied in the current or previous 4 calendar years · you must plan to live in the home within 1 year · funds must have been in the RRSP ≥90 days.

How to claim: File Form T1036 with your RRSP issuer before withdrawal. Repayment tracked on Line 24600 of your annual T1. Keep records for 15 years.

FEDERAL · TAX-FREE ACCOUNT

First Home Savings Account (FHSA)

MAX SAVINGS

$40K lifetime / $8K per year

Best of both worlds: RRSP-style tax-deductible contributions AND TFSA-style tax-free withdrawals. Contribute $8,000/year up to $40K lifetime. Withdrawals for a qualifying home purchase are fully tax-free — never repaid. Can be combined with HBP.

Who qualifies: Canadian resident aged 18-71 · you or your spouse haven't owned a home you occupied in current or prior 4 calendar years · account open ≤15 years.

How to claim: Open an FHSA at any major bank or discount broker. Contribution deadline is Dec 31 (not the RRSP March deadline). Withdraw via Form RC725 at purchase.

FEDERAL · TAX CREDIT

Home Buyers' Tax Credit (HBTC)

MAX SAVINGS

$1,500

Non-refundable federal tax credit: $10,000 × 15% federal rate = $1,500 back on your income tax. If both spouses qualify, the total $1,500 can be split any way but not doubled.

Who qualifies: Same 4-year rule as HBP/FHSA · home closes in the tax year you claim · you and/or spouse are the buyers.

How to claim: Claim on Line 31270 of your T1 in the year of purchase. No separate form — just check the box and include the closing date.

FEDERAL · GST REBATE

GST/HST New Housing Rebate

MAX SAVINGS

up to $6,300

Rebates 36% of the 5% GST paid on new construction ≤$350K (max $6,300); phased out between $350K-$450K; zero above $450K. Applies to newly built homes AND substantial renovations. Vancouver / Fraser Valley new-build market rarely qualifies given prices — check with your builder if the price is under $450K.

Who qualifies: Home is a newly built or substantially renovated principal residence · purchase price below $450K for any rebate.

How to claim: Builder usually applies the rebate directly at closing (paperwork Form GST190). If you paid the full GST, file Form GST191 within 2 years.

BC FIRST-TIME BUYER — GRANT & TAX REBATE CHEAT-SHEETPrepared by Doug LeMaire, REALTOR®

SECTION 3

How to Stack Every Program

The 5-step stacking playbook

Open an FHSA the calendar year before you plan to buy. Even $8K in the account for a few months protects your tax status. Fill it before Dec 31.
Contribute to your RRSP ≥90 days before writing your offer. Otherwise the funds cannot qualify for HBP withdrawal. If time-pressed, focus FHSA first.
Bank your BC residency early. The PTT exemption requires 12 months of BC residency OR 2 BC tax returns filed in the last 6 years — don't leave this to the last month.
Time the closing to match tax-year benefits. HBTC ($1,500) applies in the tax year of closing — closing in December means you claim it 3 months later on your T1 instead of 15 months.
Apply for the Home Owner Grant every May. Missing the annual deadline = paying the full property tax bill. Set a calendar reminder.

Common stacking mistakes

Mistake	Cost	Fix
Buying home > $860K assuming you'll still get partial PTT exemption	Up to $13,000	Structure offer at $835K or find qualifying price band
Withdrawing RRSP funds contributed in the last 90 days	Full withdrawal becomes taxable	Wait 90 days OR use FHSA instead
Missing the annual Home Owner Grant deadline	$570-770/yr	Auto-file each May — set calendar alert
Assuming Newly Built + First-Time exemptions stack	One is disqualified	Pick the one that saves more — usually FTHB up to $835K
Forgetting to open FHSA before Dec 31	Lose 1 year of $8K contribution room	Open by Dec 31 even with just $100

BC FIRST-TIME BUYER — GRANT & TAX REBATE CHEAT-SHEETPrepared by Doug LeMaire, REALTOR®

YOUR NEXT STEP

Book a 20-minute First-Time Buyer strategy call with Doug.

Doug will walk you through which programs stack for your specific situation, connect you with a first-time-buyer-friendly mortgage broker who understands BC's foreign-buyer and speculation-tax rules, and help you build a realistic timeline from FHSA opening to keys-in-hand.

📞 (604) 787-0851📧 info@eztofind.ca🌐 eztofind.ca/consultation

BC First-Time BuyerGrants & Tax Rebates

BC First-Time Buyer
Grants & Tax Rebates