I put a 10% deposit down on a pre construction condo scheduled for completion in 2025. Can I claim the first time home buyer tax credit this year or do I have to wait?
I put a 10% deposit down on a pre construction condo scheduled for completion in 2025. Can I claim the first time home buyer tax credit this year or do I have to wait?
I put a 10% deposit down on a pre construction condo scheduled for completion in 2025. Can I claim the first time home buyer tax credit this year or do I have to wait?
Technically, to be eligible to apply for the first-time home buyers amount, you would need to be living in the home within a year of purchase. But I would recommend calling the Canada Revenue Agency (CRA) at 1-800-959-8281, and see if they will let you take the credit, since your home won’t be ready until 2025.
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