First-Time Home Buyers' Tax Credit

Here is another program geared towards first-time home buyers!  The Government is offering an incentive for first time home buyers by offering a 15% income tax credit for closing costs. 


Details

• To assist first-time home buyers with the costs related to the purchase of a home.
  
• The First-Time Home Buyers' Credit (FTHBC) provides a 15 percent credit on a maximum of $5,000 of home purchase costs (e.g. legal fees, land transfer taxes, etc.), meaning maximum tax relief of $750.
  
• Applicable to first-time buyers purchasing a home closing after January 27, 2009.
  
• The FTHBC is claimable for the taxation year in which the home is acquired.
  
• An individual will be considered a first-time home buyer if neither the individual nor the individual's spouse or common-law partner owned and lived in another home in the calendar year of the home purchase or in any of the four preceding calendar years.
  

• If you are a person with a disability or are buying a house for a related person with a disability, you do not have to be a first time home buyer.  However, the home must be acquired to enable the person with a disability to live in a more accessible dwelling or in an environment better suited to the personal needs and care of that person.

 If you're a first-time home buyer, contact me today for further information on this and other programs geared towards helping first-time home buyers....its time to start building your equity!


I am 100% committed to putting your interests first.  Contact me and let me lead you through the exciting world of home ownership.  


Sincerely,

Sara Kareer
Sales Representative
Century 21 Millennium Inc., Brokerage

(tel) 905-450-8300
(toll-free) 1-888-450-8301
(web) www.SaraKareer.com
(web) www.century21.ca/sara.kareer