Canadian Tax and
Financial Information
First-Time Home Buyer's Tax Credit

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Filing Your Return
Disabilities -> First-Time Home Buyers' Tax Credit

Line 369 First-Time Home Buyers' Tax Credit and
Disability Home Purchase Tax Credit

Income Tax Act s. 118.05

A new non-refundable tax credit was enacted as part of the 2009 Federal Budget, based on an amount of $5,000 for first-time home buyers who acquire a qualifying home after January 27, 2009.  The home is considered to be acquired once it is registered in your name in accordance with the land registration system or other similar system applicable where it is located (in Canada).  The year of acquisition is the year in which the tax credit can be claimed.  If you missed claiming this credit in the year of purchase, you can file an adjustment to your tax return.  See our article on Changing Your Tax Return.

The credit is also be available in respect of a home acquired by an individual who is eligible for the disability tax credit (DTC), or by an individual for the benefit of a DTC-eligible relative, if the home is acquired to enable the DTC-eligible person to live in a more accessible dwelling.

The credit can be claimed by the individual who acquires the home, or by the spouse or common-law partner of that individual, or can be split between spouses.

To be eligible for this credit, neither the individual nor the individual's spouse or common-law partner can have owned and lived in another home, anywhere in Canada, in the calendar year of the home purchase or in any of the four preceding calendar years.

The Canadian Tax Calculator includes the first-time home buyers' tax credit.


bulletLine 369 Home Buyers' Amount in the Canada Revenue Agency (CRA) General Income Tax and Benefit Guide
bulletFirst-Time Home Buyers' Tax Credit on the Federal Budget website

Provincial First-Time Homebuyers' Credits

bulletBC First-Time New Home Buyers' Bonus - Refundable
bulletNova Scotia First-Time New Home Buyers' HST Rebate
bulletSaskatchewan First-Time Homebuyers' Tax Credit

See also:

bulletGST/HST Rebate for New Housing and Substantial Renovations
bulletHome Renovation Tax Credits

Revised: January 05, 2017


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