BC Home Owners Grant (Property Tax Exemption)

Basic Home Owner Grant (BC)
The basic grant can reduce your property tax by as much as $570. The minimum tax payable ($350) ensures that all homeowners (or eligible occupants, which includes an eligible occupant of an eligible apartment, housing unit, land cooperative or multi-dwelling leased parcel) contribute towards the funding of local services such [...]

Home Buying Series – What Taxes am I Paying?

Property Purchase Tax – BC Summary Closing Costs

Property Purchase (Transfer)Tax
Property Purchase Tax – The British Columbia Provincial Government imposes a property purchase tax which must be paid before any property can be legally transferred to a new owner. The tax is 1% on the first $200,000 of the property value and 2% on any [...]

How to Use RRSP towards Down Payment in Canada?

1. What is the Home Buyers’ Plan?
The Home Buyers’ Plan (HBP) is a program that allows you to withdraw funds from your Registered Retirement Savings Plan (RRSP) to buy or build a qualifying home for yourself or for a related person with a disability.
2. What is the current maximum amount that can be withdrawn [...]

Home Owner’s Grants – BC, AB, MB, SA, All Province Links

Home Owner Grants – Provincial
BRITISH COLUMBIA
Home Owner Grant
http://www.rev.gov.bc.ca/individuals/Property_Taxes/Home_Owner_Grant/hog.htm
Property Transfer Tax
http://www.rev.gov.bc.ca/individuals/Property_Taxes/Property_Transfer_Tax/ptt.htm
Property Tax Deferment & Financial Hardship Property Tax Deferment
http://www.rev.gov.bc.ca/individuals/Property_Taxes/Property_Tax_Deferment/ptd.htm
ALBERTA
Municipal Grants
http://municipalaffairs.gov.ab.ca/mc_municipal_grants.cfm
Energy Efficiency Rebates
http://www.climatechangecentral.com/files/myrebates/AlbertaEnvironmentEnergyRebateCard.pdf
Education Property Tax Assistance for Seniors
http://www.seniors.gov.ab.ca/financial_assistance/EPTASP/index.asp

Home Buying – All Closing Costs and Associated Fees

What It Will Really Cost to Own a Home?
As a quick rule of thumb, any home buyer can expect to pay from 1.5% – 4.0% of the purchase price of their home in closing costs.
Here are a list of expenses and some of them are optional:
Cost of Home
Purchase Price
GST (on new/significantly refurbished homes)
Upfront Costs
Appraisal fee [...]

2009 Federal Budget – EcoENERGY Retrofit Grant

EcoENERGY Retrofit for Homes provides home and property owners with grants of up to $5,000 to offset the cost of making energy-efficiency improvements. ecoENERGY Retrofit grants apply to a host of measures that reduce energy consumption and provide for a cleaner environment, from increasing insulation to upgrading a furnace.
The maximum grant one can receive per [...]

2. Federal Home Improvement Grant 2009 – Eligible Improvements

Here is the list of eligible improvement. (Click here to read more about EcoACTION Retrofit Grant)
Being a first time home buyer, you are eligible to receive home renovation tax credit up to $1350 for projects begun or completed before Feb 2010.  The credit aplies to expenses between $1,000 to $10,000.
Improvements that qualify for the mortgage [...]

3. First Time Home Buyers Credit ($750 Tax Relief)

First-time home buyers’ credit (Jan 27th 2009 new rule in effect)
First-time home buyers who acquire a qualifying home after January 27, 2009 may be entitled to claim a new non-refundable tax credit of $5,000 and worth up to $750 ($5,000 × 15%).
To qualify, neither the individual nor his or her spouse or common-law partner can [...]

January 27, 2009 Federal Budget Highlights:

New in Effect as of Jan 27, 2009 – FTHB, Home Buyer’s Plan, Rennovation Tax Credit

Under a new temporary renovation tax credit, home owners can claim a 15 % non-refundable tax credit for eligible expenditures between $1,000 -$10,000, for a maximum credit of $1,350 ($9,000 × 15%). The credit is available for eligible costs of [...]

Land or Property Transfer Tax Refunds

If you purchase land or an interest in land, you may be entitled to a refund of a Provincial Land Transfer tax.
In Ontario, qualified first time home buyers may be entitled to a refund of a provincial Land Transfer Tax up to a maximum of $2,000 or a home priced up to $227,500. There is [...]