In light of the budget that came out yesterday, I wanted to share this PDF with you – www.bcbudget.gov.bc.ca/2012/highlights/2012_Highlights.pdf – to highlight a few key points as it relates to first-time homebuyers.
Further to the changes in HST that came out last week – available at www.angelacalla.ca/blog – the provincial government has announced they will issue:
- A tax credit for up to $10,000 for first-time homebuyers purchasing new construction over the next year
- A $1,000 home renovation tax credit for seniors
Remember these are tax credits, so they must be claimed and applied for when you do your income tax return or upon conveyance with your lawyer/notary.
With tax time just around the corner, be sure to check with both your lawyer/notary and accountant to ensure you receive the maximum amount, and grants and refunds applicable to you.
Let us know if we can help you with any questions regarding a mortgage!
Tune into this Saturday’s The Mortgage Show on CKNW with me at 7pm!
Thanks and have a great day,
Angela Calla, AMP
Dominion Lending Centres-Angela Calla
Host of ” The Mortgage Show” Saturdays @ 7pm on CKNW AM980
Phone : 604-802-3983 Fax: 604-939-8795