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    Bart Nieweglowski

    REALTOR - Real Estate Professional

    Century 21 Best Sellers Ltd.

    • Buying a house for the first time is a big and important decision in your life. As someone who represents you and looks out for your best interest, I would like to introduce you to the First-Time Home Buyers Tax Credit.


    • First-Time Home Buyers Credit (FTHBC) is a government program geared towards buyers like you. The objective is to reduce costs associated with purchasing a home. As a first time buyer, you are eligible for a 15% income tax credit on a maximum of $5,000 of home purchase costs such as legal fees and land transfer taxes. It can be claimed for the taxation year that you acquired the house.  This usually means a maximum tax credit of $750.  


    • You are considered to be a first time buyer if neither you and your spouse or common-law partner has owned and lived in another home in the year of the purchase or in any of the four previous years.  


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