"Building VALUE With Every Move"

 

1. HOME BUYER'S PLAN 

 Do you know that you can withdraw up to $25,000 (couples can withdraw up to $50,000) from their RRSP'S for a downpayment.  Home buyers who have repaid their RRSP's can be allowed to use it for the second time.  

 Canada Revenue Agency www.cra.gc.ca Enter 'Home Buyers' Plan in the search box 1 800 959 8287

 

2. GST REBATE ON NEW HOMES 

New Home Buyers can apply for a rebate for the 5% GST if the purchase price is $350,000 or less.  The rebate is equal to 36% of the GST to a maximum rebate of $6300.  There is a proportional new home rebate costings between $350,000 and $450,000 There is no rebate for $450,000 and above.

Canada Revenue Agency www.cra.gc.ca Enter 'RC4028' in the search box.  1 800 959 8287

 

3.  BC PROPERTY TRANSFER TAX (PTT) FIRST TIME HOME BUYERS PROGRAM

Qualifying first-time buyers may be exempt from paying the PTT of 1% on the first $200,000 and 2% on the remainder of the purchase price of a home with priced up to $475,000.  There i a proportional exemption for homes between $475,000 and $500,000.  There is no exemption above $500,000.

BC Ministry of Small Business and Revenue  www.sbr.gov.bc.ca/business/property...Taxes/Proerty...Transfer...Tax/ptt.htm  250 387 0604

 

4.  FIRST TIME HOME BUYERS' TAX CREDIT (HBTC)

This federal non-refundable income tax credit is for qualifying buyers of detached, attached, apartment condominiums, mobile homes or shares in a cooperative housing corporation.  The calculation: Multiply your lowest personal income tax rate for the year (15% in 2012) x $5000. For 2013 tax year, the maximum credit is $750.

Canada Revenue Agency  www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/compltng/ddctns/Ins360-390/369/menu-eng.html 1800 959 8281

 

5.  BC HOME OWNER GRANT

Reduces property taxes for home owners with an assessed value of up to $1,100,000.  The basic grant give homeowners:

  I.  A Maximum reduction of $570 in property taxes on prinicipal residences in the Capital, Greater Vancouver and Fraser Valley Districts

  II. An additional grant of $200 to rural home owners elsewhere in the province

  III. An additional grant to seniors aged 65+, those who are permanently disabled and war veterans of certain wars.

BC Ministry of Small Business and Revenue www.rev.gov.bc.ca/hog or contact your municipal tax office

 

6.  BC PROPERTY TAX DEFERMENT PROGRAMS

- Property Tax Deferment for Seniors Program - Qualifying Home Owners aged 55+ maybe eligible to defer property taxes.

- Financial Hardship Property Tax Deferment Program - Low income home owners maybe eligible to defer property taxes

- Property Tax Deferment Program for Families with Children - low income home owners who financially support children under age 18 maybe eligible to defer property taxes.

 

7.  HOME ADAPTATIONS FOR INDEPENDENCE (HAFI)

A program jointly sponsored by the provincial and federal governments provides up to $20,000 to help eligible low-income seniors and disabled homeowners and landlords to modify their homes to make it more accessible and safer.

BC Housing www.bchousing.org/Options/Home...Renovations 604 646 7055 or toll free 1 800 407 7757 ext 7055

 

8.  CMHC MORTGAGE LOAN INSURANCE PREMIUM REFUND

Provides Home buyers with CMHC Mortgage premium insurance, a 10% premium refund and possible extended amortization without surcharge when buyers purchase an energy efficient homes or make energy saving renos.

 

9.  BC HYDRO APPLIANCE REBATES & FRIDGE BUY-BACK PROGRAM

Mail in rebates for purchasers of ENERGY STAR clothes washers, refrigerators or freezers.  There is also an on-going rebates program to consumers to turn in spare fridges in workig condition for $30.

www.bchydro.com/powersmart/residential/rebates...savings/appliance_rebates.html  1 800 224 9376 (ENERGY STAR appl)

www.bchydro.com/powersmart/residential/rebates...savingss/fridge_buy_back.html  604 881 4357

 

10. FORTISBC REBATE PROGRAM FOR HOMES

A range of rebates for home owners including a $300 rebate for purchasing an EnerChoice fireplace, or up to $1000 off on ENERGY STAR water heater, or a $1000 rebate for switching natural gas (from oil or propane) and installing an ENERGY STAR heating system.

www.fortisbc.com/NaturalGas/Homes?offers/Pages/default.aspx 1 800 663 8400

 

 

 

 



 

Emma Co
Cell: 604-618-3888
Office: 604-279-3869
Fax: 604-279-3869
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.

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