First Time Home Buyers

​Are you a First Time Home Buyer? 

If yes, then I am sure you will have a lot of questions and I would be thrilled to help you along your journey.  

Here are some useful links below to help calulate your budget and availalble first time home buyer incentives: 

Land Transfer Tax Calculator- http://www.torontorealestateboard.com/buying/ltt_calculator/ltt_calculator.htm 

(Note: In Toronto, you are subject to two land transfer taxes, one from the municipal government, the other from the provincial government.  

If outside of Toronto, you are subject to only one land transfer tax from the provincial government.)

Incentives and Rebates for First Time Home Buyers

Ontario Land Transfer Tax Rebate

http://www.fin.gov.on.ca/en/bulletins/ltt/1_2008.html
Max of $4000 (as of January 2017)

Toronto  Land Transfer Tax Rebate
http://www1.toronto.ca/wps/portal/contentonly?vgnextoid=b271a58e82cc1410VgnVCM10000071d60f89RCRD&vgnextchannel=4f90ff0e43db1410VgnVCM10000071d60f89RCRD
Up to Total of $3,725

First Time Home Buyers Tax Credit (HBTC) 

https://www.rbcroyalbank.com/mortgages/first-time-home-buyers-tax-credit.html 

CRA home buyers tax credit of up to: $750 (filed during tax return year of acquisition) 

Home Buyers Plan (RSP)

https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/rrsps-related-plans/what-home-buyers-plan/participate-home-buyers-plan.html

In addition to the incentives and rebates, there are additional expenses should be considered.