ADVANCE UPGRADE NOTICE
The LTSA in conjunction with the Ministry of Finance has announced they will be releasing a new Property Transfer Tax (PTT) Form Version 26 on June 10, 2016. The Ministry will update the form to accommodate the collection of citizenship information as well as a few additional form changes. You can read the LTSA announcement here.
We are already working on implementing these changes in Brief ConveyTM and Version 9.5 will be available as soon as possible after the release of the new form by the LTSA . The release will include the following:
PTT FORM CHANGES POPULATED BY BRIEF CONVEY
A Yes/No option has been added to the top of the form for Is this a transfer of a bare trust?. Brief Convey will always select NO for this option. When you are dealing with a bare trust, change the default setting once the form has been generated.
INDIVIDUAL, CORPORATION, OTHER
Checkboxes for Individual, Corporation and Other have been added to each Purchaser. Brief Convey will automatically select the correct option.
A country field has been added to the PTT address section for each Purchaser. The Brief Convey contact record has a Country (if not Canada) field. If this field is left blank, the Country field on the PTT will be completed with Canada. If this field is not blank, Brief Convey will compare the contents of this field to the Country drop down on the PTT form. If an exact match is found, the Country field will be populated. If no match is found the Country field will be left blank.
NEWLY BUILT HOME EXEMPTION CHECKBOX
The Are you applying for the first time home buyers’ exemption? checkbox has been expanded on the new PTT to include the newly built home exemption. The label on the form now reads Are you applying for the first time home buyers’ or newly built home exemption? This will be populated based on the existing First Time Buyer checkbox and the newly added Apply for Newly Built Home Exemption checkbox.
CHANGES TO BUYER SCREEN
We have added an Apply for Newly Built Home Exemption checkbox to the Individual Purchaser’s tab. When applicable, select this option to ensure it is selected on the PTT form when generated.
If you require further assistance, please contact customer service at 1.866.367.7648 or email@example.com.