Do you live in Canada and are a first time home buyer? Or have bought within the past year? This is information that you need to know!
The initial costs associated with purchasing a home can be a particular burden for first-time homebuyers especially when added to the money required for a down payment.
To assist first-time homebuyers with the costs associated with the purchase of a home, the Government of Canada introduced a First Time Homebuyers Tax Credit (FTHB) in 2009.
The HBTC is calculated by multiplying the lowest personal income tax rate for the year (15% in 2009) by $5,000. For 2013 (and still in 2014), the credit will be $750.
For more information on this great plan, please click on the following link and please share with anyone you know who is a first time homebuyer!
Want to know more information on Buying or Selling homes in the Okanagan, please contact us directly and we'd be happy to help 250-300-4748