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.
Posted by Mary Cimprich
on June 16, 2009