Article written

  • on 12.01.2010
  • at 08:49 PM
  • by Mahmud

Government programs for Home Owners 0

Jan12

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.

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