$5,000 Federal Tax Credit Available for First-Time Homebuyers!

May 8, 2018 | Posted by: Robert Russo

If you’re buying your first home, don’t miss your opportunity to take advantage of the Home Buyers Tax Credit (HBTC) offered by the Government of Canada.

This credit is designed to assist first-time homebuyers 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 or contact Robert Russo, Mortgage Consultant for INVIS at 250-470-2576.  

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