Tax Season is Here..

 This is the time of year where people face financial decisions based on things like...Do we have to pay taxes?  Are we fortunate enough to get a tax refund?  Should I buy RRSP's, TFSA's or RESP's?  Then throw into the mix, is this the time to save up for a down payment on a house?  Well of all these things that will be considered over this coming year there is some "Good News' that we want to share with those who are looking to become 1st time home owners and it's a program that the government has had in place for years, yet many don't know about the incentives available for 1st time Home Buyers.
First Time Home Buyers receive a $5,000 income tax credit that provides up to $750 of tax relief.  
First Time Home Buyers Ontario Land Transfer Tax Credit (up to $2,000).  This allows the purchaser to buy a house up to $227,500 and pay no Ontario Land Transfer Tax.
The first Time Home Buyers RRSP Plan (HBP) allows first time home buyers to withdraw up to $25,000 from RRSP's to buy or build a home.  the withdrawn amount must be repaid within 15 years.
Call one of the Local Home Team Real Estate Experts for the details.