How are transfers of title to a corporation treated under the Property Transfer Tax Act?
Registration of title to property in the name of a corporation that is not a family farm corporation is exempt from property transfer tax, if the corporation transferee is one or more of the following: • A corporation established under the University Foundations Act or Trinity Western University Foundation Act; • A corporation established under the Library Foundation of British Columbia Act; • A corporation established under the Cultural Foundation of British Columbia Act; • A corporation or a committee established under the First Peoples’ Heritage, Language and Culture Act; • A corporation listed under Schedule 1 of the Federal-Provincial Fiscal Arrangements and Federal Post-Secondary Education and Health Contributions Act (Canada) • A registered charity as defined in section 248 of the Income Tax Act (Canada) (refer to PTT 025).
