Filing Your Return -> Disabilities -> First-Time Home Buyers' Tax Credit / Disability Home Purchase Tax Credit
Line 31270 First-Time Home
Buyers' Tax Credit (HBTC) and
Disability Home Purchase Tax Credit
Note: Before tax year 2019, line 31270 was line 369.
Income Tax Act s. 118.05
A non-refundable tax credit was enacted as part of the 2009 Federal Budget, based on an amount of $5,000 for first-time home buyers who acquire a qualifying home after January 27, 2009. The home is considered to be acquired once it is registered in your name in accordance with the land registration system or other similar system applicable where it is located (in Canada). The year of acquisition is the year in which the tax credit can be claimed. If you missed claiming this credit in the year of purchase, you can file an adjustment to your tax return. See our article on Changing Your Tax Return.
The home is considered to be acquired in the taxation year in which the home is registered in the name of the individual. As per s. 118.05(2) of the Income Tax Act, "an individual is considered to have acquired a qualifying home only if the individual's interest (or for civil law, right) in it is registered in accordance with the land registration system or other similar system applicable where it is located. Tax Interpretation 2010-0357201E5 addresses the situation where a condo buyer occupies the condo in one tax year but is not registered as the legal owner until the subsequent tax year. The HBTC is not available until the subsequent tax year.
Note that if a home is gifted to a person, as long as all other requirements are met, the person can still qualify for the home buyers' tax credit. The person who gifted the home is deemed to have disposed of it, and may have to report a capital gain.
The credit is also be available in respect of a home acquired by an individual who is eligible for the disability tax credit (DTC), or by an individual for the benefit of a DTC-eligible relative, if the home is acquired to enable the DTC-eligible person to live in a more accessible dwelling.
The credit can be claimed by the individual who acquires the home, or by the spouse or common-law partner of that individual, or can be split between spouses.
To be eligible for this credit, you must not have lived in another home owned by you or your spouse or common-law partner in the calendar year of the home purchase or in any of the four preceding calendar years.
The Canadian Tax Calculator includes the first-time home buyers' tax credit.
Provincial First-Time Homebuyers' Credits
BC First-Time New Home Buyers' Bonus - RefundableNova Scotia First-Time New Home Buyers' HST Rebate
Saskatchewan First-Time Homebuyers' Tax Credit
Quebec First-Time Homebuyers' Tax Credit beginning in 2018
TaxTips.ca Resources
First-Time Home Buyer Incentive (FTHBI) to fund part of your purchase
GST/HST Rebate for New Housing and Substantial RenovationsCanada Revenue Agency (CRA) and Finance Canada Resources
Line 31270 Home Buyers' AmountFirst-Time Home Buyers' Tax Credit
First-Time Home Buyer Incentive