Government Programs

​​​​​​​First Time Home Buyers’ Tax Credit

The home buyers' amount is a non-refundable tax credit that helps first-time home buyers with some of the costs of purchasing a qualifying home.

This credit reduces the federal income tax you may owe, but you will not get a refund for this credit if you do not have any tax payable.

For more information, check the Canada Revenue Agency’s (CRA) website: Line 31270 – Home buyers' amount - Canada.ca

Home Buyers’s Plan

A one-time withdrawal up to $60,000 from a Registered Retirement Savings Plan (RRSP) by first-time buyers to help purchase or build a home.Couplse can combine their limits to withdraw up to $120,000. Generally, you have to repay all withdrawals from your RRSP within 15 years.

For more details, visit CRA’s website at: How to participate in the Home Buyers' Plan - Canada.ca

GST/HST Rebate for First-Time Home Buyers

Ontario and the federal government have introduced enhanced HST new housing rebates. Effective for agreements entered into between April 1, 2026, and March 31, 2027, buyers can claim up to $130,000 in combined tax relief on eligible new homes priced up to $1.5 million

For more detailed information on the first-time home buyers rebate, visit the official Government of Canada website: GST/HST Rebate for First-Time Home Buyers.