FIRST TIME HOME BUYERS’ TAX CREDIT

First Time Home Buyers’ Tax Credit

First time home buyers may eligible for a 15% income tax credit on a maximum of $5,000 of home purchase costs (e.g. legal fees, land transfer taxes) representing a tax relief of $750.

The tax credit is applicable to first-time home buyers purchasing a home with a closing date after January 27, 2009.

For more information visit:

• Canada Revenue Agency