What is the Home Buyers' Tax Credit?
HBTC is a non-refundable tax credit that is based on an amount of $5,000. It is for certain home buyers that acquire a qualifying home after January 27, 2009.
How do you qualify for the HBTC?
You can qualify for the credit if you or your spouse/common-law partner acquire a qualifying home. You must not live in another home owned by you or your spouse/common-law partner in the acquiring year or in any of the four preceding years.
For more information on the Tax Credit please go to: http://www.cra-arc.gc.ca/gncy/bdgt/2009/fqhbtc-eng.html#q1