NEW 2009 BUDGET RELIEF FOR 1ST TIME HOMEBUYERS AND HOMEOWNERS

1.  First-time Homebuyer's Tax Credit:  A $5,000 tax credit offers up to $750 in tax savings for first-time buyers to help with closing costs on a home purchased after January 27, 2009

2.  Homebuyer's Program:  You can now take up to $25,000 out of your RRSP's to buy a first home and pay no taxes, up to $20,000.  That's up to $50,000 for eligible couples

3.  Home Renovation Tax Credit - for everyone.  Claim up to a $1,350 tax credit for renovations to your home costing $1,000 to $10,000 and done before February 1, 2010

4.  EcoEnergy Retrofit Program:  Get a grant of up to $5,000 for changes to your home that add to it energy efficiency; you can also claim the Home Renovation Tax Credit for these upgrades.

Mary Cimprich

Mary Cimprich

Sales Representative
CENTURY 21 Today Realty Ltd., Brokerage*
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