Did you know there is a First-Time Home Buyers’ Tax Credit (HBTC)?Posted on December 19th, 2012
This federal non-refundable income tax credit is for qualifying buyers of detached, attached, apartment condominiums, mobile homes or shares in a cooperative housing corporation. The calculation: multiply the lowest personal income tax rate for the year (15% in 2011) x $5,000. For the 2012 tax year, the maximum credit is $750.
For information: Canada Revenue Agency.
You can also phone 1.800.959.8281.