As you are no doubt aware, last week our federal government announced this year's budget. It contained several measures that could be of beneift to current and prospective homeowners. I'll summarize them very briefly below. Please contact me directly for further details
1) Home renovation tax credit of up to $1350. This credit can be claimed on renovations on your principal residence. The contact for goods or services must be new in 2009. The maximum rebate is 15% of your renovation cost, up to a maximum of $1350.
2) Use more of your RRSP for a new home purchase. The withdrawl amound has been increased to $25,000.
3) First time home buyers credit of up to $750. Like the renovation credit, this is for the purchase of a principal residence. It is for first time home buyers only with a few exceptions.
