Blog by West Kootenay Real Estate For Sale

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Government Benefits and Incentives for first time Homebuyers

Did you know that the government offers benefits and incentives for first-time homebuyers?

The First-Time Home Buyers Tax Credit offers eligible individuals a $5,000 non-refundable income tax credit on a qualifying home. www.actionplan.gc.ca

The Home Buyers’ Plan lets first-time homebuyers withdraw up to $25,000 tax free from RRSP’s. You’ll have up to 15 years to pay it back. www.servicecanada.gc.ca