Tax Credit for 1st Time Home Buyers


A key tax credit is still available!

If you’re buying your first home, take advantage of the Home Buyers Tax Credit (HBTC). The credit is designed to assist first-time home buyers with the extra costs associated with buying a home, like legal fees, disbursements and land transfer taxes. The $5,000 non-refundable HBTC amount provides up to $750 in federal tax relief. You qualify if neither you nor your spouse (or common-law partner) have owned and lived in another home for the past five years*. If you have a disability – or are purchasing the home for a relative with a disability – you may also qualify for the program, even if you are not a first-time buyer.

Source - Karen Lesser of HLC Mortgages

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