First time home buyers can claim a $5,000 tax credit, but what if this is not your first home?
- Do you have a family member who qualifies for the Disability Tax Credit?
- Is the new home more accessible to the individual or
- Is it better suited to their needs?
If so, you qualify for the Home Buyers Amount even if this is not your first home. The $5,000 tax credit translates into $750 in your pocket. Not bad eh?
For more information consult CRA – Home Buyers’ Amount
What if I purchased a home previously and forgot to claim it?
No problem! That’s what the form T1-ADJ form is for. It’s a simple one page form that my 8 year old could fill out.
4 thoughts on “Did You Buy A New Home?”
Thank you for you information I will used this year in my in my next 2017
You are welcome 🙂
Well Well Mr smart guy, lol, how far back can you go on this, we bought 10 years ago and did so for Reid??? Can we go back that far?
Nice try. I like the way you think. Unfortunately the credit did not come in until 2009.