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New Member
posted Oct 29, 2019 6:16:26 PM

Why does the turboxtax first time home buyer tax credit only seem to show $750 when the CRA website shows that the credit is for $5000?

Why does the turboxtax first time home buyer tax credit only seem to show $750 when the CRA website shows that the credit is for $5000?


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1 Best answer
New Member
Oct 29, 2019 6:16:27 PM

The Home Buyer amount of $5,000  is a non-refundable tax credit of which 15% or $750 is allowed as a credit against your taxes payable.  For more info please see http://www.cra-arc.gc.ca/tx/ndvdls/sgmnts/hmwnr/menu-eng.html

1 Replies
New Member
Oct 29, 2019 6:16:27 PM

The Home Buyer amount of $5,000  is a non-refundable tax credit of which 15% or $750 is allowed as a credit against your taxes payable.  For more info please see http://www.cra-arc.gc.ca/tx/ndvdls/sgmnts/hmwnr/menu-eng.html