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: Home Buyers' Program: You now can take up to $25,000 out of your RRSPs to buy a first home and pay no taxes, up from $20,000. That's up to $50,000 for eligible couples.
3: Home Renovation Tax Credit-for everyone. Claim up to $1,350 in 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 its energy efficiency; you can also claim the Home Renovation Tax Credit for these upgrades.
5. Incredibly Low Mortgage Rates-for everyone. Currently a 5-year, fixed rate mortgage can be found for as low as 4.39%. For a mortgage of $150,000 over 35 years, the payment for interest and principal equals 696.05 per month.
6. The Ontario Land Transfer Rebate for 1st-Time Buyers.
The maximum refund of $2,000 can be claimed at time of registration to offset the tax ordinarily payable.
If you would like more information on any or all of these programs, we invite you to contact us.