First time home buyer

First Time Home Buyer Credit?

The Home Buyer Tax Credit is a non-refundable credit that allows first time home buyers who acquire a qualifying home during the Tax year may be entitled to claim a federal non-refundable tax credit up to $5000 and worth $750 (5000 x 15%).

To qualify, neither the individual nor his or her spouse or common-law partner can have owned and lived in another home in the calendar year of the new home purchase or in any of the four preceding calendar year. The credit can be claimed by either the purchaser or spouse or common law.

More info:
First time home buyer CRA link