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Level 1
posted Apr 20, 2020 3:11:07 PM

Home buyers' account

I moved to Canada with my spouse in 2019 and bought one condominium unit for living. Regarding Income tax returns, I would like to ask about Line 31270 <Home buyers' account> of the Federal non-refundable tax credit. The gist is 'another home' of ■ <you did not live in another home owned by you or your  common-law partner in the year of acquisition or in any of the four preceding years(first-time home buyer)>. 
 Actually we immigrated without selling our home in the country before we left  there. In this case, would that house constitute "another home"? 
Thank you in advance.

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1 Best answer
Level 1
Apr 21, 2020 7:24:24 PM

not "Home buyers' account" but  "Home buyer's amount" 😊 sorry...

2 Replies
Level 1
Apr 21, 2020 7:24:24 PM

not "Home buyers' account" but  "Home buyer's amount" 😊 sorry...

Level 3
Apr 23, 2020 5:38:11 PM

It seems to fall under personal property and if it is then it doesn't matter, as long as it used for your personal needs/l living when you visit home. It does not need to be reported. See CRA link on the matter look at Number 6:

 

https://www.canada.ca/en/revenue-agency/services/tax/international-non-residents/information-been-moved/foreign-reporting/questions-answers-about-form-t1135.html