April 25th, 2017
If you are a first time home buyer, a non-refundable tax credit of $750 can be claimed for the purchase of a qualifying home.
Most single-family homes, townhomes, condos, and apartments would meet the conditions of a qualifying home. In order to claim the credit you must intend to occupy the home, or alternatively, a related person with a disability can occupy the home as a principle residence.
Only one spouse can claim the credit if a home is jointly purchased.
To be eligible as a first time home buyer, you must not have lived in another home owned by you or your spouse in any of the preceding four years.
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