Tax Credit Explained

First-Time Home Buyers’ Tax Credit Explained

 

     Are you thinking of purchasing your first home? Purchasing a home is a big decision and a major financial commitment.


     Did you know that the Economic Action plan includes a First-Time Home Buyers’ Tax Credit (HBTC) to help?


     The HBTC assists first-time home buyers with the costs associated with the purchase of a home, such as legal fees, disbursements and land transfer taxes, which are a particular burden for first-time home buyers, who must also save for a down payment.


     Watch the video below to find out if you are eligible to claim this $5,000 tax credit.

Video