Don't Forget To Claim Your Cost Associated with Purchasing a HOme

Did you buy your first house in Canada? Wonderful !! Do you know you can claim cost associated with purchasing  a home when you file your tax return ? 

It is a time to file you tax return and so don't forget ..... READ BELOW..

First-Time Home Buyers' (FTHB) Tax Credit

The costs associated with purchasing a home, such as legal fees, disbursements and land transfer taxes, can be a particular burden for first-time homebuyers who must pay these costs, as well as save money for a down payment. To assist first-time homebuyers with the costs associated with the purchase of a home, the Government of Canada introduced a FTHB Tax Credit in 2009 — a $5,000 non-refundable income tax credit amount on a qualifying home acquired after January 27, 2009. For an eligible individual, the credit will provide up to $750 in federal tax relief starting in 2009.

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Best regards,

 

Ritesh Joshi
Your Next Door Realtor

www.riteshtherealtor.com

647-281-3424