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mross
New Member

Do we quality for First Time Home Buyer Amt? We bought a home in May 2017. My spouse moved to Canada from England UK, June 2015. He did own a home, sold it May 2015.

 
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Do we quality for First Time Home Buyer Amt? We bought a home in May 2017. My spouse moved to Canada from England UK, June 2015. He did own a home, sold it May 2015.

If you did not reside in the home in the UK, you would qualify for the Home Buyer's Amount as you meet the qualifications set out by the CRA.

You can claim $5,000 for the purchase of a qualifying home in 2017 if  both  of the following apply:

  • you or your spouse or common-law partner acquired a qualifying home; and
  • you did not live in another home owned by you or your spouse or common-law partner in the year of acquisition or in any of the four preceding years (first-time home buyer).
mross
New Member

Do we quality for First Time Home Buyer Amt? We bought a home in May 2017. My spouse moved to Canada from England UK, June 2015. He did own a home, sold it May 2015.

So as joint owner of the house - would I not just claim half of the amount - $2500 as the spouse does not quailify

Do we quality for First Time Home Buyer Amt? We bought a home in May 2017. My spouse moved to Canada from England UK, June 2015. He did own a home, sold it May 2015.

Percentage of ownership doesn't affect the claim. You can claim the full $5000 (as you are the only one claiming it).

Do we quality for First Time Home Buyer Amt? We bought a home in May 2017. My spouse moved to Canada from England UK, June 2015. He did own a home, sold it May 2015.

To follow this up does this mean that if one held a house in the UK (till Oct 2019) in both names, we DO NOT qualify for this credit , having purchased in Quebec in Oct 2020 ?