B.C. Finance Minister, Carole Taylor, has given first time home buyers a major boost by increasing the threshold at which they have to pay Property Transfer Tax (PTT) to $425,000 (formerly $375,000), subject to various conditions.

The details of the exemptions and thresholds can be found here:

http://www.sbr.gov.bc.ca/documents_library/bulletins/PTT_004.pdf

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