Home Buyers' Amount (HBA) (aka: Home Buyers Tax Credit, or HBTC)
The federal HBA may provide a non-refundable tax credit for first-time home buyers that allows you to claim up to $5000 in the year you purchase a home if you are eligible. In order to qualify:
- You or your spouse or common-law partner must acquire a qualifying home
- You must be a first-time home buyer. Meaning:
- You did not live in a home that either you or your partner owned in the four years prior to purchasing your new home
About The Author
Don Scott
Don Scott is the founder of a challenger mortgage brokerage that is focused on improving access to mortgages. We can eliminate traditional biases and market restrictions through the use of technology to deliver a mortgage experience focused on the customer. Frankly, getting a mortgage doesn't have to be stressful.
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