What's New
Property Taxes Section - 2006

Each time we change the information on our website, we record that change on this page. This lets you see at a glance what changes have been made.

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August 22, 2006

Bulletin PTT 004, First Time Home Buyers' Program, has been updated to clarify exceptions to the mortgage paydown requirements and property that qualifies for the FTHB exemption.

June 15, 2006

Bulletin PTT 003, Exemptions Generally, has revised wording regarding the consideration paid to bankruptcy trustees for transfers.

May 8, 2006

Bulletin PTT 018, Application of the Act to Sales of Crown Land has been revised and now includes additional information on the purchase price and fair market value.

April 4, 2006

The Leases and Property Transfer Tax Information Sheet is an overview of how Property Transfer Tax applies to leases of real property.

March 8, 2006

The First Time Home Buyers' Information Sheet has revised post office box contact information.

February 21, 2006

Provincial Budget Amendments to Tax Acts - Summary

Home Owner Grant Act

On February 21, 2006, the Minister of Finance announced increases to the Home Owner Grant amount and the phase out threshold. The basic grant amount is increased to $570 and the additional grant will increase to $845. The phase out threshold increases to $780,000.

A partial grant will apply to properties valued between $780,000 and $894,000. For seniors and other home owners receiving the additional grant, a partial grant will be available for properties valued up to $949,000.

Home Modifications Grant for Disabled Expanded

The Home Owner Grant Regulation provides an additional grant of
up to $275 (on top of the basic grant) annually for home owners
with a permanent disability, or those living with a relative or spouse with a permanent disability, who incur direct costs for structural modifications completed to their home that exceed $2000. Effective January 1, 2006, applicants who purchase a modified home will also qualify for the grant provided the modifications meet the needs of their disability and have a value that exceeds $2000.

January 10, 2006

The provincial government has announced its intention to introduce legislation in the February 2006 Budget that will increase the threshold for the Home Owner Grant. Please see the news release for more information.

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