Do BC physicians pay property transfer tax on a first home?

Not on homes up to $835,000, if you qualify for BC's first-time home buyers' exemption. The exemption phases out between $835,000 and $860,000. It requires Canadian citizenship or permanent residency and at least a year of living in BC, among other conditions.

Does the BC home flipping tax apply if I move for fellowship?

It applies to homes sold within 730 days, at up to 20% of the profit. There is an exemption for relocating for work when your old home is at least 40 km farther from your new job than your new home, but you still have to file the return.

How much can I take from an FHSA and RRSP for my down payment?

Up to $40,000 from a First Home Savings Account over your lifetime, at $8,000 a year, plus up to $60,000 from your RRSP through the Home Buyers' Plan. You can use both for the same home.

Buying a home in BC as a physician

By Asim Ali, Mortgage Broker, Dominion Lending Centres A.I.M.I. Collective Mortgage Group
Updated November 2, 2026

Short answer: BC first-time buyers pay no property transfer tax on homes up to $835,000. Residents should know the BC home flipping tax before buying somewhere they may leave for fellowship. A First Home Savings Account and RRSP can together contribute up to $100,000 of your down payment.

Property transfer tax exemptions

Exemption	Full exemption	Partial exemption	Link
First-time home buyers	Homes up to $835,000 (tax-free on the first $500,000)	$835,000 to $860,000	Read more →
Newly built homes	Homes up to $1,100,000	$1,100,000 to $1,150,000	Read more →

Both thresholds have applied since April 1, 2024. The first-time buyer exemption requires that you are a Canadian citizen or permanent resident, have lived in BC for at least a year (or filed two BC tax returns in the last six years), have never owned a principal residence anywhere, and move in within 92 days.

The BC home flipping tax and fellowship moves

Since January 1, 2025, BC taxes profit on homes sold within 730 days of purchase. The rate is 20% for sales in the first 365 days and falls to zero by day 730.

That matters if you might leave for a fellowship. BC offers a life-circumstance exemption for relocating for work: your current home must be at least 40 km farther from your new job than your new home is. You still need to file a return, so speak to an accountant before you sell.

Using your savings accounts

First Home Savings Account: $8,000 of contributions a year, up to $40,000 over your lifetime. Unused room carries forward, up to $8,000.
RRSP Home Buyers' Plan: withdraw up to $60,000 toward a first home. Repayments for first withdrawals made between 2026 and 2028 start in the fifth year after the withdrawal.
You can use both accounts for the same home.

Mortgage rules that apply to every buyer

Minimum down payment: 5% of the first $500,000 and 10% of the portion above, for homes under $1.5 million. Homes at $1.5 million or more need 20% down.
First-time buyers and buyers of newly built homes can use a 30-year amortization on an insured mortgage.
Under 20% down, you pay a mortgage insurance premium. Canada Guaranty's medical program charges 4.00% of the loan at 90.01% to 95% financing when the down payment is your own savings or a gift.

Want these numbers run for a specific home? Send us the price range and area and Asim will lay out your down payment, taxes and payment.

Lender programs change often. Figures on this page are current as of November 2, 2026 and are examples, not offers. Your approval depends on the lender and your full application.

Buying a home in BC as a physician

Property transfer tax exemptions

The BC home flipping tax and fellowship moves

Using your savings accounts

Mortgage rules that apply to every buyer

Read more

Find out what you can buy before you start looking