Home Buyers' Plan (HBP)
This federal government program you to borrow up to $25,000 from your RRSP tax free to fund your purchase. If both you and your spouse qualify, you can each borrow up to $25,000 from your RRSPs, for a total of $50,000.
Land Transfer Tax Refund
If you're a first-time home buyer, you may receive a refund from the Ontario government of up to $2,000 of the land transfer tax you paid on your first home.
First-time Home Buyers' Tax Credit (HBTC)
You or your spouse can claim this tax credit on your annual income tax return. The credit is based on an amount of $5,000.
There are many conservation and renewable energy programs available in Ontario to help you in your efforts to be more energy aware for your home. They are offered by various levels of government, by local electricity and natural gas utilities, by non-profit agencies, and by many other associations. Whether you are looking for more information, practical assistance, financial incentives, or other resources, click on the link below to find the programs best suited to your interests and needs.
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