Solved: Can I claim first time home buyer credit in Canada...

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
EnglishEN

Pick a language

Français English
cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
New Member

Can I claim first time home buyer credit in Canada if the house was transferred to me? I've never owned a home before.

 
1 Best answer

Accepted Solutions
Highlighted
Moderator

Can I claim first time home buyer credit in Canada if the house was transferred to me? I've never owned a home before.

The First-time Home Buyers' Tax Credit was introduced as part of 'Canada's Economic Action Plan' to assist Canadians in purchasing their first home. It is designed to help recover closing costs such as legal expenses, inspections, and land transfer taxes.

As you have not purchased the home, you would be ineligible to make the claim. CRA does not require supporting documents when you claim this credit on your tax return, however if they do, you must present documents supporting the purchase of the home.

View solution in original post

1 Reply
Highlighted
Moderator

Can I claim first time home buyer credit in Canada if the house was transferred to me? I've never owned a home before.

The First-time Home Buyers' Tax Credit was introduced as part of 'Canada's Economic Action Plan' to assist Canadians in purchasing their first home. It is designed to help recover closing costs such as legal expenses, inspections, and land transfer taxes.

As you have not purchased the home, you would be ineligible to make the claim. CRA does not require supporting documents when you claim this credit on your tax return, however if they do, you must present documents supporting the purchase of the home.

View solution in original post

v