Solved: First Homebuyer's Tax Credit

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First Homebuyer's Tax Credit

Hi, Just wondering if I qualify for the first home buyer's credit. I bought my first home ever here in Canada, and am living in it (ie it's my principal residence), however have owned a home overseas when I lived in Australia.
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New Member

First Homebuyer's Tax Credit

You can claim $5,000 for the purchase of a qualifying home in 2016.

In order to claim the Homebuyers Credit you have to meet the following two conditions:

  • 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).

View solution in original post

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Highlighted
New Member

First Homebuyer's Tax Credit

You can claim $5,000 for the purchase of a qualifying home in 2016.

In order to claim the Homebuyers Credit you have to meet the following two conditions:

  • 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).

View solution in original post