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As tax time approaches a reminder to all first time buyer; you may have a Tax credit available to you!


Blog by Alisa Sakamoto | April 8th, 2014


As tax time approaches a reminder to all first time buyer; you may have a Tax credit available to you!

You can claim an amount of $5,000 for the purchase of a qualifying home acquired in 2013, if both of the following apply:

  • you or your spouse or common-law partner acquired a qualifying home; and
  • you did not live in another home owned by you or your spouse or common-law partner in the year of acquisition or in any of the four preceding years (first-time home buyer).
  • Single family; strata; mobiles they all qualify.
  • Sample program applies for purchases to which assists those with disabilities.


    Watch the video - 
    First-time home buyers' tax credit    

Source:  http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/ddctns/lns360-390/369/menu-eng.html