Tag Archives: Tax Credit

First-Time Home Buyers’ Tax Credit (HBTC)

First-Time Home Buyers' Tax Credit (HBTC)

First-Time Home Buyers' Tax Credit (HBTC)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.

Canada Revenue Agency

www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncmtx/rtrn/cmpltng/ddctns/lns360-390/369/menu-eng.html

1.800.959.8281

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