Government rebates to help you save for a Home!

Federal Government ProgramsDollar Signs

Tax-free savings account or TFSA allows you to save money in an account, free of tax.  The savings you grow there can be used to renovate or purchase a house.  Get more info here.

The Home Buyers’ Plan or HBP allows tax-free withdrawals, providing you meet some qualifying criteria, from the registered retirement savings plans to either build or to purchase a qualifying home.  Get more info here.

Ontario Government Programs

Land Transfer Tax Refund for First-time Homebuyers:   If you (or your spouse) haven’t owned a home before, this refund has a maximum of $2,000.  You can claim this amount at registration and offset some (or sometimes all) of the Land Transfer Tax due.  Certain criteria apply and more info is available here.

Subscribe to my monthly newsletter by clicking here.

Tags: ,

About Marg

is an award-winning real estate Broker who has successfully been helping people move since 1989. When it’s time for a move in or out of a bigger, smaller, better, more expensive, less expensive, newer, older, house, condo, farm, investment property, vacant lot or business, talk to Marg.

This entry was posted by Marg on Thursday, July 11th, 2013 at 9:53 am and is filed under Buying Real Estate, Money Matters. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.

Leave a Reply

Fill in the missing number *

RE/MAX four seasons realty limited, brokerage  ♦  67 First Street Collingwood, ON L9Y 1A2  ♦  705-445-8500