Financial Planning -> Real Estate
New Home Buyers / Buying a Home or Other Real Estate
Make sure you report repayments to RRSP Home Buyer's Plan!
Federal and Provincial Programs for Home Buyers / Home Owners
BC Home Owner Mortgage and Equity (HOME) Partnership program for First Time Home Buyers - 25-year loan that is interest-free and payment-free for the first 5 years. Applications were accepted starting January 16, 2017, for purchases that closed on or after February 15, 2017. The program came to an end on March 31, 2018 due to its low participation rate.
BC First-Time New Home Buyers' Bonus - Refundable - was available up to March 31, 2013
Ontario Healthy Homes Renovation Tax Credit - Refundable - for senior homeowners and tenants, eliminated after 2016.
Ontario Seniors Homeowners' Property Tax Grant - can reduce property taxes by up to $500 per year. This is on the Ontario website.
Ontario Land transfer tax refund of up to $2,000 ($4,000 for purchases after Jan 1, 2017) for first-time home buyers - on Ontario Ministry of Finance website.
Real Estate Issues
Can I deduct interest expense on money borrowed to purchase real estate? - Includes information on vacant land adjusted cost base.
Selling a Home or Real Estate
Is the sale of real estate taxable? What about my principal residence?
Is your rental income considered property income or business income? Why does it matter?
Terminal Loss on sale of depreciable property
What happens if I move into my rental property, or start renting out my home? Topics included:
- What if I rent out part of my principal residence?
T1135 Foreign Income Verification Statement for rental property in another country.
Revised: September 15, 2021
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