As tax time approaches a reminder to all first time buyer; you may have a Tax credit available to you!
You can claim an amount of $5,000 for the purchase of a qualifying home acquired in 2013, 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).
- Single family; strata; mobiles they all qualify.
- Sample program applies for purchases to which assists those with disabilities.
Watch the video - First-time home buyers' tax credit
Source: http://www.cra-arc.gc.ca/tx/