Tax Tip #5 – First Time Home Buyer’s Credit

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And the series of Tax Tips continues…this week’s information will be helpful to those individuals who purchased a home for the first time.  This tax credit was introduced in 2009 and is completely independent from the Home Buyer’s Loan program by CRA.

If you are a first-time homebuyer, a person with a disability, or an individual buying a home on behalf of a related person with a disability, you may be able to claim a non-refundable tax credit of up to $750 for the acquisition of a qualifying home acquired after January 27, 2009 (closing after this date).

Are you eligible? Find out  more information on CRA’s Home Buyer Tax Credit (HBTC)

 

We would be interested to hear whether you find these types of government programs helpful.

 

Copyright: paulmichaelhughes / 123RF Stock Photo

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Juliet Aurora

About the Author:

Juliet Aurora is the President and CEO of AIS Solutions. She has been in the Accounting and Finance space for more years than she will ever admit. When she isn’t acting as the Sensei for her team of Bookkeeper Kninjas, you will find her working tirelessly to advocate the accreditation of bookkeeping in Canada. Her vision is for AIS Solutions to become the standard against which all other bookkeepers and bookkeeping firms are measured. Juliet can be contacted by email or by calling 1 888 575 5385.

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