Tax and Land Information Website
Real Property Transfer Tax - First-time Home Buyers Exemption
First-time home buyers (as defined by the Real Property Transfer Tax Act) may apply for the first-time home buyer’s exemption that waives the 1% Real Property Transfer Tax on the registration of their deed of conveyance.
To qualify for this exemption, first-time home buyers must complete the Declaration – First-time Home Buyers form and have it signed by a notary public or a commissioner for taking affidavits. First-time home buyers must sign an oath that states:
That the purchaser of the subject property is at least 18 years of age;
That the purchaser is a Canadian citizen or a permanent resident as defined in the Immigration and Refugee Protection Act (Canada);
That the purchaser has maintained a principal residence in the province throughout a period of not less than six months immediately prior to the registration date, or have been subject to tax under clause 3(a) of the Income Tax Act RSPEI 1988, Cap I-1 and have filed a return under the Act in at least two of the six taxation years immediately preceding the registration date or the purchaser has occupied the subject property as their principal residence for a period of six months following the registration of the deed;
That the purchaser has not previously held a registered interest in real property, in any jurisdiction, that constituted a principal residence;
That the purchaser has not previously obtained a first-time home buyer exemption;
That the purchaser intends to occupy or use the real property as their principal residence as defined in the PEI Real Property Transfer Tax Act.
Additional information is available in the following documents:
This page is prepared for information purposes only, and should not be considered a substitute for the applicable statutes. Should there be any conflict between the contents of this page and the statutes, the statutes shall prevail.
The form(s) listed below are also available in French on our Formulaires page.
Declaration - First-time Home Buyers