Government Programs to help Home Buyers & Home Owners
Posted by Jay McDouall on
The Home Buyers’ Plan
The Home Buyers’ Plan (HBP) is a program that allows you to withdraw from your registered retirement savings plans (RRSPs) to buy or build a qualifying home for yourself or for a specified disabled person. Currently the HBP withdrawal limit is $60,000.
GST/HST New Housing Rebate
As per the Canada Revenue Agency, a house can be eligible for the GST/HST and/or applicable provincial new housing rebate if it “includes a detached or semi-detached single-unit house, a duplex, a condominium unit, a townhouse, a unit in a co-operative housing corporation, a mobile home (including a modular home), and a floating home. It may also include the land around and underneath the house that is reasonably necessary for its use and…
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