First-Time Home Buyers' Tax Credit, CRA Informational Video

From The Canadian Revenue Agency’s website some well put together information regarding the First-Time Home Buyers’ tax credit:

“Line 369: Home Buyers’ amount

You can claim an amount of $5,000 for the purchase of a qualifying home acquired in 2014, if both of the following apply:

  • you or your spouse or common-law partner acquired a qualifying home; and
  • you did not live in another home owned by you or your spouse or common-law partner in the year of acquisition or in any of the four preceding years (first-time home buyer).

Watch the video – First-time home buyers’ tax credit

 

Don’t miss out on this credit when filing this year!