For conveyances or dispositions that occur before January 1, 2017, the maximum amount of the refund is $2,000.
2) HOME BUYERS' PLAN
Qualifying home buyers can withdraw up to $25,000 (couples can withdraw up to $50,000) from their RRSPs for a down payment. Home buyers who have repaid their RRSP may be eligible to use the program a second time. For more information: www.cra.gc.ca. Enter 'Home Buyers' Plan' in the search box.
3) FIRST-TIME HOME BUYERS' TAX CREDIT (HBTC)
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 2010) x $5,000. For the 2010 tax year, the maximum credit is $750. For more information: www.cra.gc.ca
4) CMHC MORTGAGE LOAN INSURANCE PREMIUM REFUND
CMHC Green Home offers a partial refund on the cost of the mortgage loan insurance. Buy, build or renovate for energy efficiency and you may be eligible for a refund of up to 25% of your premium.
If you have any questions or I can help you arrange a mortgage, to purchase, refinance or transfer from another Financial Institution, please call or email me! I will guide you through the process !
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