First time home buyer tax credit
To qualify for the home buyer’s tax amount:
- you or your spouse or common-law partner must have bought a qualifying home; and
- you can’t have lived in another home owned by you or your spouse or common-law partner that year or in any of the four preceding years.
If you are buying a home and are eligible for the disability tax credit or if you are an individual buying a home for a related person who is eligible for the disability tax credit, you may also qualify for this credit even if you have already owned a home.
A qualifying home must be registered in your name, in your spouse’s or common-law partner’s name, or in both names, according to the applicable land registration system, and must be located in Canada. It includes existing homes such as single-family houses, semi-detached houses, townhouses, mobile homes, condominium units, apartments in duplexes, triplexes, fourplexes, or apartment buildings, and homes under construction.