Tax Refund for First -Time Home Buyers

February 1, 2024 | Posted by: Cam Brown

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Don't forget to take advantage of (or inform your tax service to take advantage of) the tax break for first-time home buyers!

$1,500 for 2023 first-time buyers. Don’t leave money on the table if you bought your first home last year ! You may be able to take advantage of the Home Buyers Tax Credit (HBTC) when you file your tax return. The $5,000 non-refundable HBTC provides up to $1,500.00 in federal tax relief. You qualify if neither you nor your spouse (or common-law partner) have owned and lived in another home for the past five years.

 

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