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A New First-Time Home Buyers' Tax Credit

A New First-Time Home Buyers' Tax Credit

Date : 6 Avril 2018

Québec will introduce a new tax deduction this year that will allow Quebecers to receive up to $750 for the purchase of a first home. 

This non-refundable tax credit is intended to mitigate the impact of expenses not included in the mortgage for the purchase of a first property and will be applicable to properties acquired on or after January 1, 2018.

The eligibility criteria for this new non-refundable tax credit will be similar to those for the Home Buyers' Plan (HBP) : to take advantage of it, you must not have owned a home in the four years preceding the transaction.

Finance Minister Carlos Leitao expects 47,000 families to benefit from this measure.

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