Home Buyers’ Tax Credit

Written by an Expert

What is the First-Time Home Buyers’ Tax Credit?

The First-Time Home Buyers’ Tax Credit is a tax claim made available to first-time buyers purchasing qualified homes. The rebate is roughly $750.

To be eligible, you must:

  • Be a Canadian resident
  • Be considered as a first-time homebuyer
  • Not have owned a home within the past four years
  • Not lived in a house that your spouse owned within the past four years (if you are now buying together)
  • Present documents supporting the purchase of your home
  • Intend on living in the home within one year of buying/building it

The claim must be made in the same year you purchased your home.

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