Blog

Monday

5

FEBRUARY

2024

Have you heard of the First Time Home Buyers’ Tax Credit?

Purchasing a home is a big decision and a major financial commitment.  Did you know that there is a Tax Credit available for First Time Homebuyers?  An amount of $10,000 can be claimed for the purchase of a qualifying home in 2023. 

You can claim up to $10,000 for a purchase of a qualifying home in 2023 if both the following apply:

You (or your spouse or common-law partner) acquired a qualifying home
You did not live in another home that you (or your spouse or common-law partner) owned in the year of acquisition or in any of the four preceding years (first-time home buyer)

To learn more, visit the Government of Canada’s website: First-time homebuyer’s tax credit.