First Time Buyers
Even making mind to buy a house for the first time is a big task of anyone’s life. Representative of properties will help to extract your best intrest and show the houses relatively. Therefore, I would like you to know about the First-time Home Buyer’s Credit.
I know, some people have read this term for the first time. Let me explain benefits of this:
First-time Home Buyer’s Credit is a government program which was introduced for 2009 and subsequent years. It is a non-refundable tax credit and the main objective of this program is to reduce costs while puchasing the house.
You are authorized person for a 15% income tax credit by maximum $5000 if you pass the eligibility criteria mentioned below:
1. you or your spouse or common-law partner acquired a qualifying home; and
2.you did not live in another home owned by you or your spouse or common-law partner in the year of acquisition or in any of the four preceding years.