“The tax is only on the foreign buyer’s proportionate share of the property. Therefore, if you own 50% of the title to the property then the foreign buyer tax is only calculated on 50% of the value.”
“The second exception is a refund of the ATT for individuals who become Canadian permanent residents or citizens within 1 year of purchasing property in BC. The eligibility requirements for the refund are as follows:
The purchaser used the property as their principal residence;
moved into the property within 92 days of the completion date; and
continued to live in the property as their principal residence for at least one full year after the completion date.
This refund can be claimed only once.
The purchaser must apply for the refund between 12 months and 18 months after the completion date.”
The Spouse would pay the additional property transfer tax on their proportionate share of a residential property transfer if the property is within specified areas of B.C. Their proportionate share is the percentage of interest that they are registering on title with the Land Title Office. As the foreign entity is acquiring a 50% interest in the property, they pay the additional property transfer tax on 50% acquired interest.
If the Spouse becomes a permanent resident or Canadian citizen within one year of the date the property transfer was registered with the Land Title Office, then the Spouse can apply for a refund.