Looking to buy a new home in Edmonton? There are benefits and credits available to make it easier when it comes to buying a new home and after you purchase your home.
The First Time Home Buyers Tax Credit
You can receive as much as $750 back on your tax payment. The HBTC is a non refundable credit that allows first time home buyers and those with disabilities to claim this refund.
Line 369 - Home Buyers Amount
You can claim $5,000 for the purchase of a qualifying home in the year if both of the following apply:
- You or your spouse or common-law partner acquired a qualifying home.
- 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