First Time Home Buyer? 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.
* For more information, visit the Action Plan website atwww.actionplan.gc.ca/en/initiative/first-time-home-buyers-tax-credit
This entry was posted on September 4, 2013 by kevinbakerrealestate. It was filed under Buyers, Local Kitchener Waterloo, Uncategorized and was tagged with first time home buyer, full time realtor, HBTC, home buying, kevin baker, Kitchener waterloo, lofts in kitchener, Mortgage News, real estate, real estate investing, Remax, tax credit, waterloo ontario.