The home buyers' tax credit (HBTC) is a non-refundable tax credit for eligible home buyers who acquire a qualifying home.
To be eligible for this amount, at least one of the following must apply:
- you qualify as a first-time homebuyer
- the house must be more accessible or better suited to the needs of an occupant with a disablity
Note:
You will qualify for the HBTC if both of the following apply:
- you or your spouse or common-law partner acquired a qualifying home
- you did not live in another home owned by you or your spouse or common-law partner in the year of acquisition or in any of the four preceding years
You also have to be living in the home within a year of purchase and it must be your principal place of residence.