Garage/Garden/Secondary Suite Grants In Edmonton – Alberta Cornerstones:
Edmonton’s Plan For Affordable Housing
Affordable housing needs in Edmonton are significant and growing. Access to safe, adequate and affordable housing is fundamental to the physical, economic and social well being of individuals, families and communities.
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This federal non-refundable income tax credit is for qualifying buyers of detached, attached, apartment condominiums, mobile homes or shares in a cooperative housing corporation. The calculation: multiply the lowest personal income tax rate for the year (15% in 2011) x $5,000. For the 2011 tax year, the maximum credit is $750.
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First-Time Home Buyers’ Tax Credit
First-time home buyers may be eligible for a 15 per-cent income tax credit for closing costs.
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Emergency Repair Program
The Emergency Repair Program is meant to help those who have a low income and need to make necessary repairs to their home. To be eligible, an individual only needs to have low income and be a tenant or homeowner in a rural area of Canada. Repairs may be made on a variety of areas of the home, including the electrical system, the foundation, chimneys, windows and doors, among other areas. The grant amount, like other financial assistance, varies depending on where one lives in Canada. Assistance totals $6,000, $9,000 and $11,000, respectively, for those that live in the southern, northern and far northern parts of the country. Repairs that are started before the application for funding has been approved in writing are not eligible for the grant.
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Down Payment Loan Assistance In The Region Of Peel
The Home in Peel Affordable Ownership Program is designed to provide low-to-moderate income residents who are currently renting a unit in the Region of Peel (Brampton, Caledon or Mississauga) the opportunity to qualify for down payment loan assistance to buy a home in Peel Region.
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