Blog
Monday
10
FEBRUARY
2025
Have you heard of the First Time Home Buyers’ Tax Credit?
Purchasing a home is a big decision and a
major financial commitment. Did you know
that there is a Tax Credit available for First Time Homebuyers? An amount of $10,000 can be claimed
for the purchase of a qualifying home in 2024.
You can claim up to $10,000 for the
purchase of a qualifying home in 2024 if both the following apply:
You (or your spouse or common-law partner)
acquired a qualifying home
You did not live in another home inside or outside Canada that you (or
your spouse or common-law partner) owned in the year of acquisition or in any
of the four preceding years (first-time home buyer) unless you are a
person with a disability.
To learn more, visit the Government of
Canada’s website: First-time homebuyer’s tax credit.