Property Transfer Tax Calculation
How Much is the PTT?The PTT is charged on the fair market value or a property at a rate of:
- 1% on the first $200.000
- 2% on the balance up to an including $2,000,000
- 3% on the balance greater than $2,000,000
Pre-salesBuyers of pre-sold strata units will typically pay the PTT on the total consideration paid for the unit, not the fair market value on the date the title is registered. There are PTT exemptions for new homes (see below.)
Once a developer files a strata plan at the LTSA, whoever registers the transfer pays the PTT.