BC resident salaries vs projected income
BC residents are paid under the Resident Doctors of BC agreement. The rates below apply from the first pay period after April 1, 2026.
See what each income lets you buy in our BC resident salary guide.
Property transfer tax in BC
- Rates: 1% on the first $200,000, 2% up to $2 million, 3% above that, plus a further 2% on residential value above $3 million.
- First-time buyers: no tax on the first $500,000 for homes up to $835,000, phasing out by $860,000.
- Newly built homes: fully exempt up to $1,100,000, phasing out by $1,150,000.
- Foreign buyers: a further 20% in Metro Vancouver, the Fraser Valley, the Capital Regional District, Central Okanagan and Nanaimo.
Mortgage insurance premiums are added to your mortgage in BC and there is no sales tax on them. See your own numbers in the BC closing cost calculator.
The home flipping tax and moving for fellowship
Since January 1, 2025, BC taxes profit on homes sold within 730 days, at up to 20% in the first year. If you may leave for fellowship, read our BC home-buying guide for physicians before you buy.
Where BC residents train
UBC's Faculty of Medicine runs BC's residency programs, with training sites in Metro Vancouver, Victoria, Prince George, Kelowna and communities across the province. If you are matching to BC, see our Match Day to keys timeline.
By Asim Ali, Mortgage Broker (BC, AB), Mortgage Agent Level 2 (ON)
Updated
