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.


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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.

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