⚡ Credit Amount Doubled:
To support home affordability, the Canadian federal government permanently doubled the Home Buyers\' Tax Credit amount from $5,000 to **$10,000**. Because the credit is calculated using the lowest federal tax rate of 15%, this yields exactly **$1,500 in tax savings**.
HBTC Eligibility checker
Input your home acquisition details to check your tax credit qualification:
Qualifying Homes & Splitting Rules
The CRA sets strict rules on what home types qualify and how the credit can be split:
- Home Types: Single-family houses, semi-detached, townhouses, mobile homes, condominium units, and apartments inside Canada all qualify.
- Joint Purchases: If you and a friend or sibling purchase a home together, you can split the $10,000 claim on your tax returns. However, the total combined claim for the property cannot exceed $10,000.
- Disability Exception: The "first-time home buyer" requirement is **waived** if you qualify for the Disability Tax Credit (DTC) or if you bought the home for the benefit of a related disabled person. The purchase must be to allow the disabled person to live in a home that is more accessible.
Official Government References & Sources
This guide compiles official CRA home buyer tax credits and rules sourced directly from:
• CRA First-time Home Buyers' Tax Credit: canada.ca/line-31270-home-buyers
HBTC Quick Facts
CRA Tax Return LineLine 31270
Max Claim Amount$10,000 CAD
Federal Tax Savings$1,500 CAD
DTC WaiverSupported