Government programs for Home Owners

If you own a home or are planning to buy one soon, here are some programs available to you as a resident of Canada. This is an incentive from Canada Revenue Agency that makes home ownership a bit easier.

• Home Buyers Plan Withdraw up to $20,000 from your RRSP to buy a qualifying home under this program.
• Tax Credit for First Time Home Buyers Claim a non-refundable tax credit of up to $750 on your 2009 income tax and benefit return for the purchase of a qualifying home acquired after January 27, 2009.
• GST/HST New Housing Rebate
  You may qualify for a rebate of part of the GST/HST that you paid on the purchase price or cost of building your new house, on the cost of substantially renovating or building a major addition onto your existing house, or on converting a non-residential property into a house.
• Home Renovation Tax Credit Get upto $1350 tax credit on your 2009 taxes for renovation or alterations.
• Medical Expense Tax Credit Renovation or alteration expenses that improve access for persons with disabilities
• Provincial credits you can claim on your tax return Ontario property tax credit and Senior Homeowners’ Property Tax Grant.
• Working at home Home expenses you can claim

You can get more details from the CRA website dedicated to these programs and incentives.