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First Time Home Buyers' Tax Credit


Blog by Greg Hamilton, REALTOR® | March 17th, 2010


The Tax season is here so don't forget about the 'First-Time Home Buyers' Tax Credit (HBTC)'. It is worth checking into because it is not only for First-Time Home Buyers. Here are a couple of the qualifying points:

  • 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.
  • A qualifying home is a housing unit located in Canada acquired after January 27, 2009. This includes existing homes and those being constructed. Single-family homes, semi‑detached homes, townhouses, mobile homes, condominium units, and apartments in duplexes, triplexes, fourplexes, or apartment buildings all qualify.

Every credit towards your taxes can help so check out the Government website at: First Time Home Buyers' Tax Credit