Did You Buy a Home in 2015?
Home buyer’s Credit
If you are a first-time home buyer, you may be able to claim an amount of $5,000 for the purchase of a qualifying home in 2015.
To qualify for the home buyers’ amount:
- you or your spouse or common-law partner bought a qualifying home; and
- you did not live in another home owned by you or your spouse or common-law partner that year or in any of the four preceding years
Tax Saving tips
- you are eligible for the disability tax credit; or
- you acquired the home for the benefit of a related person who is eligible for the disability tax credit.
A qualifying home must be registered in your name or your spouse’s or common-law partner’s name according to the applicable land registration system, and must be located in Canada. It includes existing homes such as single-family houses, semi-detached houses, townhouses, mobile homes, condominium units, apartments in duplexes, triplexes, four-plexes, or apartment buildings, and homes under construction.
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