Lowering Taxes For Home Buyers

Here is a little information thanks to Dean Del Mastro M.P. regarding First-Time Home Buyers' Tax Credit.

The fees associated with purchasing a first home can really add up.  To help Canadians with these costs, our Conservative Government introduced the First-Time Home Buyers' Tax Credit.  The credit allows Canadians to save up to $750 on qualifying homes purchased after January 27, 2009.

The First-Time Home Buyers' Tax Credit is also available to existing homeowners who are eligible for the Disability Tax Credit (DTC) who purchase a more accessible or functional home, or for the benefit of a DTC eligible person who is related to the individual purchasing the home.

Home Buyer's Plan
For many first-time home buyers or builders, saving for a down payment can be the most challenging part.  To help Canadians saving for their first big purchase, our Conservative Government raised the amount Canadians can withdraw from their Registered Retirement Savings Plans (RRSP) for a down payment on their first home.
Through Canada's Economic Action Plan, our Conservative Government increased the maximum Canadians can withdraw from their RRSPs for a home purchase to $25,000.  Through these important actions, our Conservative Government is helping Canadians realize their dream of buying a new home.

For More Information call 1-800-959-8281 or visit WWW.CRA-ARC.GC.CA