This grant allows first-time home buyers to recover some of the costs associated with a purchase (Ex. legal fees, land transfer taxes, home inspection). With our current tax rates, the non-refundable credit is worth an estimated $750.
The RRSP Home Buyer’s Plan allows first time buyers to borrow up to $25,000 (tax-free) from their Registered Retirement Savings Plan (RRSP) for a down payment. If you’re purchasing with another person who is also a first time buyer, each of you can access $25,000 from RRSP’s for a total of $50,000.
This rebate helps first time buyers recover some of the provincial part of the HST they paid to buy a house. To qualify, you must be buying a new or substantially renovated house from a builder.
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The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by the Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned and administered by CREA.