$10,000 Bonus for 1st Time Home Buyers

A new $10,000 bonus, in the form of an one-time refundable personal tax credit, is being introduced by the government this spring.  The bonus is equal to 5% of the purchase price of a home, up to the maximum of $10,000.

The bonus will be sent to the purchaser(s) by cheque after home is purchased.  Banks are already setting up financing options for people to utilize the bonus as part of their downpayment BEFORE the sale occurs.

Once it's officially passed by legislation, application forms will be made available.  This program will end March 31, 2013 once HST is replaced by the old GST/PST system.

Come back to our site, we will update you with information as it is released.

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