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| This is part of an archived statute consolidation that is current to August 17, 2004 and includes changes enacted and in force by that date. |
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| SECTION | EFFECTIVE DATE | ||
| 1 | November 1, 2000 | ||
| February 19, 2003 | |||
| December 12, 2003 | |||
| March 31, 2004 | |||
| 1.2 | February 19, 2003 | ||
| 1.3 | May 13, 2004 | ||
| 2 | December 12, 2003 | ||
| March 31, 2004 | |||
| 4 | February 19, 2003 | ||
| May 13, 2004 | |||
| 5 | February 19, 2003 | ||
| 6 | February 19, 2003 | ||
| 7 | February 19, 2003 | ||
| 8 | February 19, 2003 | ||
| 9 | February 19, 2003 | ||
| 10 | February 19, 2003 | ||
| 12 | February 19, 2003 | ||
| 13.1 | December 12, 2003 | ||
| 13.2 | December 12, 2003 | ||
| March 31, 2004 | |||
| 14 | November 1, 2000 | ||
| July 12, 2002 | |||
| January 1, 2003 | |||
| March 14, 2003 | |||
| February 19, 2003 | |||
| December 12, 2003 | |||
| January 1, 2004 | |||
| March 29, 2004 | |||
| February 18, 2004 | |||
| May 13, 2004 | |||
| 16 | December 12, 2003 | ||
| 34.1 | December 12, 2003 | ||
| 37 | December 12, 2003 | ||
| March 31, 2004 | |||
Section 1(1) definitions of "parent", "related individual" and "spouse" BEFORE amended by 2000-24-31 effective November 1, 2000 (BC Reg 280/00).
"parent" includes a person who is the stepmother or stepfather of the child, if a stepparent relationship is established
(a) by marriage between the stepparent and the mother or father of the child, or
(b) by the stepparent and the mother or father of the child living together as husband and wife for not less than 2 years although not married to each other;
"related individual" means a spouse, parent, child, grandparent, grandchild, greatgrandparent, greatgrandchild, mother-in-law, father-in-law, grandmother-in-law, grandfather-in-law, greatgrandmother-in-law, greatgrandfather-in-law, daughter-in-law, son-in-law, granddaughter-in-law, grandson-in-law, greatgranddaughter-in-law or greatgrandson-in-law;
"spouse" means a person who
(a) is married to another person, or
(b) is living with another person as husband and wife and has lived with that person for a continuous period of at least 2 years;
Section 1(1) definition of "related person" was added by 2003-3-28 effective February 19, 2003 [retro from March 12, 2003 (Royal Assent)].
Section 1(1) definitions of "electronic", "electronic return", "electronic signature", "subscriber" were added by 1999-35-6 and re-enacted by 2003-96-45 effective December 12, 2003 (BC Reg 471/03).
Section 1(1) definition of "true copy" was added by 2004-12-31 effective March 31, 2004 (Royal Assent).
Section 1.2(1) definition of "related person" BEFORE repealed by 2003-3-29 effective February 19, 2003 [retro from March 12, 2003 (Royal Assent)].
"related person" means a person who is
(a) a related individual, or
(b) a related person within the meaning of section 251 of the Income Tax Act (Canada).
(2) Subject to section 1.1 and subsection (3) of this section, this section applies in relation to a taxable transaction if
(a) the previous holder and the new holder are the same person or are related persons, and
(b) the interest of the previous holder was not registered in the land title office or, when that interest was registered, tax under this Act was not payable.
(3) This section does not apply if the interest of the previous holder
(a) was registered before March 23, 1987, or
(b) was a registered interest in the estate in fee simple as a joint tenant or a tenant in common.
(4) For the purposes of determining the fair market value of an estate in fee simple in relation to a taxable transaction to which this section applies, the fair market value is deemed to be the fair market value of the estate in fee simple determined in accordance with paragraph (a) of the definition of "fair market value", but as if the fee simple were not subject to the interest of the previous holder.
Section 1.3 was enacted by 2004-40-46 effective May 13, 2004 (Royal Assent).
Section 2(1.1) was added by 1999-35-7(a) and re-enacted by 2003-96-45 effective December 12, 2003 (BC Reg 471/03).
Section 2(8) BEFORE amended by 1999-35-7(b) and re-enacted by 2003-96-45 effective December 12, 2003 (BC Reg 471/03).
(8) A registrar may, without a hearing, refuse to accept an application for registration of a taxable transaction if the registrar has reasonable grounds to believe that the tax relating to the transaction has not been paid or the return required by subsection (1) is incomplete or has not been filed.
Section 2(1.1)(a) BEFORE amended by 2004-12-32 effective March 31, 2004 (Royal Assent).
(a) the tax required to be paid under subsection (1) (a) must be paid by electronic means at the time and in the manner established by the administrator, and
Section 4(b) in the definition of "eligible security" BEFORE amended by 2003-3-30(a) effective February 19, 2003 [retro from March 12, 2003 (Royal Assent)].
(b) is between the transferee and a person who is not a related individual to the transferee, and
Section 4 definition of "first time home buyer" BEFORE amended by 2003-3-30(b) effective February 19, 2003 [retro from March 12, 2003 (Royal Assent)].
"first time home buyer" means an individual who
(a) is a Canadian citizen or is lawfully admitted to Canada for permanent residence,
(b) continuously maintained that individual's principal residence in British Columbia throughout a period of not less than one year immediately before the registration date, and
(c) has not previously held a registered interest in land, whether in British Columbia or elsewhere, that constituted the individual's principal residence;
Section 4 definition of "qualifying property" BEFORE amended by 2003-3-30(c) effective February 19, 2003 [retro from March 12, 2003 (Royal Assent)].
"qualifying property" means a property the fair market value of which does not, on the registration date, exceed the qualifying value of that property;
Section 4(a) in the definition of "qualifying value" BEFORE amended by 2003-3-30(d) effective February 19, 2003 [retro from March 12, 2003 (Royal Assent)].
(a) $275 000 if the property is located in the Greater Vancouver Regional District, the Central Fraser Valley Regional District, the Dewdney-Alouette Regional District, the Fraser-Cheam Regional District or the Capital Regional District, or
Section 4(2) was added by 2004-40-47 (after renumbering section 4 as 4(1)) effective May 13, 2004 (Royal Assent).
Section 5(1) BEFORE amended by 2003-3-31(a) effective February 19, 2003 [retro from March 12, 2003 (Royal Assent)].
(1) Subject to sections 6 to 12, a transferee who applies for registration of an eligible transaction at a land title office is exempt from the obligation to pay tax under section 2 (1) (a) on that transaction if
Section 5(1.1) was added by 2003-3-31(b) effective February 19, 2003 [retro from March 12, 2003 (Royal Assent)].
Section 6(1) and (2) BEFORE amended by 2003-3-32(a) effective February 19, 2003 [retro from March 12, 2003 (Royal Assent)].
(1) If a qualifying property that is the subject matter of an eligible transaction is larger than 0.5 ha in area, a transferee who qualifies for an exemption under section 5 is exempt from the obligation to pay tax under section 2 (1) (a) on that transaction
(a) in respect of that portion of the fair market value of the property that is applicable to the residential improvement in which the transferee establishes a qualifying residence within the meaning of section 8 (2) on the property, and
(b) in respect of that portion of the fair market value of the property, not including improvements, that is equivalent to the ratio of 0.5 ha to the total area of the property.
(2) If a qualifying property not referred to in subsection (1) is the subject matter of an eligible transaction and has improvements on it that are in addition to the residential improvement in which the transferee establishes a qualifying residence within the meaning of section 8 (2), a transferee who qualifies for an exemption under section 5 is exempt from the obligation to pay tax under section 2 (1) (a) on that transaction
(a) in respect of that portion of the fair market value of the property that is applicable to that residential improvement, and
(b) in respect of the fair market value of the property, not including improvements.
Section 6(3) was added by 2003-3-32(b) effective February 19, 2003 [retro from March 12, 2003 (Royal Assent)].
Section 7(1) BEFORE amended by 2003-3-33(a) effective February 19, 2003 [retro from March 12, 2003 (Royal Assent)].
(1) A transferee entitled to an exemption in respect of an eligible transaction under section 5 or 6 who fails to apply for that exemption on the registration date may, within 18 months after that date, apply to the administrator under subsection (2) for a refund of the tax paid on the registration of the transaction by the transferee.
Section 7(1.1) and (2.1) were added by 2003-3-33(b) effective February 19, 2003 [retro from March 12, 2003 (Royal Assent)].
Section 7(3) BEFORE amended by 2003-3-33(c) effective February 19, 2003 [retro from March 12, 2003 (Royal Assent)].
(3) If an application for a refund under subsection (1) is refused, the administrator must send a letter to the applicant stating the reason for the refusal, and the letter is deemed to be a notice of assessment for the purposes of allowing the applicant to file a notice of objection under section 19.
Section 8(2) BEFORE amended by 2003-3-34(a) effective February 19, 2003 [retro from March 12, 2003 (Royal Assent)].
(2) For the purposes of subsection (1) (a), a transferee establishes a qualifying residence on a property if
(a) the property contains a residential improvement on the registration date and the residential improvement is the transferee's principal residence throughout a period beginning on a date that is not more than 92 days after the registration date and continuing to a date that is not earlier than the first anniversary date of the registration date, or
(b) the property does not contain a residential improvement on the registration date, and, within 12 months after that date,
(i) a residential improvement is constructed on the property,
(ii) the transferee inhabits the residential improvement, as the transferee's principal residence, between the time it is completed and the first anniversary date of the registration date, and
(iii) the total of the fair market value of the property as at the registration date and the costs incurred to establish the residential improvement does not exceed the qualifying value of the property.
Section 8(3)(a) BEFORE amended by 2003-3-34(b) effective February 19, 2003 [retro from March 12, 2003 (Royal Assent)].
(a) is between the transferee and a person who is not a related individual to the transferee,
Section 9(1)(c) BEFORE amended by 2003-3-35(a) effective February 19, 2003 [retro from March 12, 2003 (Royal Assent)].
(c) fails, refuses or ceases to comply with section 8.
Section 9(2) BEFORE amended by 2003-3-35(b) effective February 19, 2003 [retro from March 12, 2003 (Royal Assent)].
(2) A transferee referred to in subsection (1) must pay to the administrator as a tax liability the amount of tax that the transferee would have been obliged to pay under section 2 (1) (a) had the transferee not received the exemption or refund.
Section 9(1.1) and (2.1) were added by 2003-3-35(c) effective February 19, 2003 [retro from March 12, 2003 (Royal Assent)].
Section 10 BEFORE amended by 2003-3-36 effective February 19, 2003 [retro from March 12, 2003 (Royal Assent)].
Section 9 (1) and (2) does not apply to a transferee who has obtained an exemption under section 5 or 6 or a refund under section 7 if
Section 12 BEFORE amended by 2003-3-37 effective February 19, 2003 [retro from March 12, 2003 (Royal Assent)].
12 A transferee who obtains an exemption under section 5 or 6 or a refund under section 7 must pay to the administrator, in addition to the amount of tax that the transferee is obliged to pay to the administrator under section 9, a penalty equal to that amount of tax if
(a) the transferee is not qualified under section 5 to receive an exemption, and
(b) the administrator determines that the declaration provided by the transferee under section 5 (2) or the application for refund provided by the transferee under section 7 is false or misleading in respect of the matters referred to in paragraph (c) of the definition of "first time home buyer".
Section 13.1 was added by 1999-35-8 and re-enacted by 2003-96-45 effective December 12, 2003 (BC Reg 471/03).
Section 13.2 was added by 1999-35-8 and re-enacted by 2003-96-45 effective December 12, 2003 (BC Reg 471/03).
Section 13.2(1) BEFORE amended by 2004-12-33 effective March 31, 2004 (Royal Assent).
(1) A copy of an electronic return that is
(a) obtained from the records of the administrator, and
(b) certified by the administrator to be a true copy of the electronic return
is conclusive evidence of the electronic return.
Section 14(3)(s) BEFORE amended by 2003-52-472(a) effective January 1, 2004 (BC Reg 465/03, repealing BC Reg 428/03).
(s) a transfer to a regional district, municipality, an improvement district, the Okanagan Basin Water Board, the Islands Trust, a board of school trustees as defined in the School Act, a francophone education authority as defined in the School Act, a water users' community as defined in the Water Act, a regional hospital district, a library board as defined in the Library Act, a greater board as defined in the Local Government Act, or any board incorporated by letters patent that provides services similar to those provided by a greater board;
Section 14(3)(t) BEFORE amended by 2003-52-472(b) effective January 1, 2004 (BC Reg 465/03, repealing BC Reg 428/03).
(t) a transfer to the government in accordance with a bylaw under section 305.2 [exchange of dedicated land] or 525 (3) [transfer of title to highways] of the Local Government Act;
Section 14(3)(t.1) was added by 2003-52-472(b) effective January 1, 2004 (BC Reg 465/03, repealing BC Reg 428/03).
Section 14(4)(a) BEFORE amended by 2002-61-19 effective March 14, 2003 (BC Reg 78/03).
(a) a transfer to a board or council as defined by section 1 of the Health Authorities Act for the purposes of that Act;
Section 14(4)(e) BEFORE repealed by 2002-25-65 effective January 1, 2003 (BC Reg 348/02).
(e) a transfer to the corporation established under Part 3 of the Hospital Act;
Section 14(4)(f) BEFORE repealed by 2002-25-65 effective July 12, 2002 (BC Reg 200/02).
(f) a transfer to the corporation continued under section 2 of the Health Research Foundation Act;
Section 14(4)(r) BEFORE amended by 2000-24-32 effective November 1, 2000 (BC Reg 280/00).
(r) a transfer from the Director, the Veterans' Land Act (Canada), to a veteran or the spouse, widow or widower of a veteran;
Section 14 definition "related individual" BEFORE amended by 2003-3-38 effective February 19, 2003 [retro from March 12, 2003 (Royal Assent)].
"related individual" means a related individual who is a citizen or a permanent resident of Canada;
Section 14(4)(t) BEFORE amended by 1999-35-9(a) effective December 12, 2003 (BC Reg 471/03).
(t) a transfer for the purpose of reconveying property
(i) that was conveyed in error, or
(ii) in respect of which an error was made in the description or survey under which title to the property was registered,
if the administrator is satisfied the transfer was made for that purpose and a copy of the administrator's certificate to that effect is attached to the return filed under section 2;
Section 14(u)(ii) BEFORE amended by 1999-35-9(b) effective December 12, 2003 (BC Reg 471/03).
(ii) a certificate of amalgamation is attached to the return filed under section 2 by the continuing corporation;
Section 14(4)(u)(i) BEFORE amended by 2003-70-237 effective March 29, 2004 (BC Reg 64/04).
(i) the amalgamation was effected under sections 247 to 251 of the Company Act, under sections 181 to 186 of the Canada Business Corporations Act (Canada) or under similar provisions of an enactment of Canada or of a province, and
Section 14(1) definitions of "family member", "sibling" and "spouse" were added by 2004-28-31(a) effective February 18, 2004 [retro from April 29, 2004 (Royal Assent)].
Section 14(1) definition of "family farm" in paragraph (a) BEFORE amended by 2004-28-31(b) effective February 18, 2004 [retro from April 29, 2004 (Royal Assent)].
(a) is used, owned and farmed by one individual or by related individuals,
Section 14(1) definition of "family farm" in paragraph (c) BEFORE amended by 2004-28-31(c) effective February 18, 2004 [retro from April 29, 2004 (Royal Assent)].
(c) for the purpose of an exemption claimed under subsection (3) (c) or (d), was used, owned and farmed by the settlor or the deceased;
Section 14(3)(a) BEFORE amended by 2004-28-31(d) effective February 18, 2004 [retro from April 29, 2004 (Royal Assent)].
(a) a transfer from a transferor who is not a trustee referred to in paragraph (c) or (d), to a transferee who is a related individual, if the land transferred is a family farm or a recreational residence;
Section 14(3)(c)(ii) BEFORE amended by 2004-28-31(e) effective February 18, 2004 [retro from April 29, 2004 (Royal Assent)].
(ii) the deceased and the transferee beneficiary were related individuals at the time of the deceased's death, and
Section 14(3)(c)(iii)(A) BEFORE amended by 2004-28-31(f) effective February 18, 2004 [retro from April 29, 2004 (Royal Assent)].
(A) was the deceased's family farm, recreational residence or principal residence, or
Section 14(3)(d)(ii) and (iii) BEFORE amended by 2004-28-31(g) and (h) effective February 18, 2004 [retro from April 29, 2004 (Royal Assent)].
(ii) the settlor of the trust and the transferee beneficiary are related individuals, and
(iii) the land transferred is a family farm or a recreational residence or was the principal residence of either the settlor for a continuous period of at least 6 months immediately before the date of transfer or of the transferee beneficiary for that period;
Section 14(3)(c.1), (c.2), (d.1) and (d.2) were added by 2004-28-31(i) effective February 18, 2004 [retro from April 29, 2004 (Royal Assent)].
Section 14(3)(e)(ii) BEFORE amended by 2004-28-31(j) effective February 18, 2004 [retro from April 29, 2004 (Royal Assent)].
(ii) the settlor of the trust and the transferee beneficiary are related individuals,
Section 14(3)(f) and (g) BEFORE amended by 2004-28-31(k) and (l) effective February 18, 2004 [retro from April 29, 2004 (Royal Assent)].
(f) a transfer from a transferor to a transferee, if the land transferred is a family farm, the transferee is a family farm corporation and either
(i) the transferor is the sole shareholder or is a related individual to all the shareholders of the family farm corporation, or
(ii) the transferor is a shareholder of the family farm corporation and all the remaining shareholders of the family farm corporation, if any, are related individuals of the transferor;
(g) a transfer from a transferor to a transferee, if the land transferred is a family farm, the transferor is a family farm corporation and either
(i) the transferee is the sole shareholder or is a related individual to all the shareholders of the family farm corporation, or
(ii) the transferee is a shareholder of the family farm corporation and all the remaining shareholders of the family farm corporation, if any, are related individuals of the transferee;
Section 14(4)(p.2) and (p.3) were added by 2004-28-31(m) effective February 18, 2004 [retro from April 29, 2004 (Royal Assent)].
Section 14(1.1) was added by 2004-40-48 effective May 13, 2004 (Royal Assent).
Section 16(5) BEFORE amended by 1999-35-10 effective December 12, 2003 (BC Reg 471/03).
(5) The administrator may, by certificate attached to the return filed under section 2, postpone for up to 6 months the time at which tax would otherwise be payable, if satisfied that a conservation covenant is intended to be registered within that time against the title to the land to which the taxable transaction relates.
Section 34.1 was added by 1999-35-11 effective December 12, 2003 (BC Reg 471/03).
Section 37(2)(u), (u.1), (v), (v.1), (w), (w.1), (x) and (y) was added by 1999-35-12 effective December 12, 2003 (BC Reg 471/03).
Section 37(2)(x) BEFORE amended by 2004-12-34 effective March 31, 2004 (Royal Assent).
(x) specifying persons who are required to retain copies of electronic instruments, and prescribing the period of retention, for the purposes of section 13.1 (5);
Copyright (c) 2004: Queen’s Printer, Victoria, British Columbia, Canada