A non-refundable federal tax credit worth up to $1,500 for first-time buyers.
Free quick-reference guide (PDF, courtesy of TRREB). Save or print for easy reference.
⬇ First-Time Home Buyers' Tax Credit (PDF)The Home Buyers' Amount provides a 15% non-refundable tax credit on a $10,000 amount — up to $1,500 back — to help with closing costs when you buy your first qualifying home.
| ✓ You (or your spouse) bought a qualifying home |
| ✓ Neither of you owned a home you lived in the prior 4 years |
| ✓ You claim it on your tax return for the year of purchase |
| ★ Up to $1,500 reduction in federal tax |
| ★ Easy to claim — line 31270 on your return |
| ★ Also available to persons with disabilities buying an accessible home |
| → Keep your purchase documents |
| → Claim the Home Buyers' Amount (line 31270) on your tax return |
Common questions about this program.
No — it reduces tax owing but is not paid out if you owe no tax.
Contact Tej Thakor, Broker of Record at Royal LePage Terra Realty, for professional real estate guidance across the GTA and surrounding areas — in English, Hindi & Gujarati.
We use cookies to understand how visitors use our site and to improve your experience. You can accept all cookies, or continue with only the essentials. Learn more.