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Bought My First New Home in 2009 what forms to fill in ufile

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  • Feb 26th, 2010 8:11 pm
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[OP]
Deal Fanatic
User avatar
Jun 22, 2007
5152 posts
1068 upvotes
Brampton

Bought My First New Home in 2009 what forms to fill in ufile

Hey all..

So ya as the title says i bought a home in 2009 and used some of my money from RRSP as HBP for down payment .. I also did some renovations for HRTC. I paid property tax once during closing

These are forms that comes to my mind

- HBTC - Line 369 - Home buyers' amount
- HRTC - Line 368 - Home renovation expenses

i need these ones as well correct ?

- Property Tax - Property Tax Credit (lines 7 to 19) * WHERE DO I GET THIS INFORMATION *
- Home buyers' plan (HBP)

Also can i claim Legal Fees, Tarion Fees ?
8 replies
Sr. Member
Jun 16, 2008
716 posts
454 upvotes
Thanks for posting this question; I'm in the same boat and would like a second opinion to make sure I'm not missing anything too!

I purchased a new condo, and paid some property taxes as part of my closing. I have no assessment or roll number from the city yet, just the number that was listed on my final statement of adjustments.

I have claimed the $5000 new home buyer's credit. I haven't done any renovations so I can't claim anything for HRTC.

Is there anything I'm missing?
Member
Aug 25, 2004
211 posts
9 upvotes
I am not sure about ufile, but the property tax credit is either the rent you paid for the year or the property taxes (this will be issued by the city/county, etc you live in and you should have a statement for it) for the year.
The HBP should be with the rrsp section of the program.
Deal Fanatic
Feb 1, 2006
9498 posts
622 upvotes
Muskoka
The Interview in Ufile should give you the option to add these forms. At least my software (not online) version does.

HRTC is schedule 12, you have to list eligible expenses line by line.

Been a few years, but I believe you get a slip for the HBP that you enter into uFile.

Tarion, legal, and other closing costs have no impact on taxes.

Property taxes are in the Ontario Tax section of your return. They really only pertain to low to low-mid income households, though. Once your income gets over a certain amount, you get no tax break for them, just like the GST credit. You can add them into uFile and see if it affects the return.
[OP]
Deal Fanatic
User avatar
Jun 22, 2007
5152 posts
1068 upvotes
Brampton
Thanks u all above .. really helps ..

I also called CRA for HBP repayment and they told i don't need to pay until 2011 .. if i want i can pay this yr too ..

I filled everything else .. just searching my receipts for HRTC Items :(
Sr. Member
Feb 1, 2010
871 posts
173 upvotes
HBP is handeled with your yearly assessment. In the RSP section, it will show outsatnding HBP, and the amount you need to repay in the upcoming year. You must pay the yearly amount or it will be added to your income. You can repay up to the entire balance as you wish.
Sr. Member
Mar 27, 2005
531 posts
4 upvotes
Can anyone also confirm if you sold a property which is my primary residence then I don't have to report it in the income tax form at all or I still have to list it out?
Deal Fanatic
Feb 1, 2006
9498 posts
622 upvotes
Muskoka
King James wrote:
Feb 26th, 2010 3:03 pm
Can anyone also confirm if you sold a property which is my primary residence then I don't have to report it in the income tax form at all or I still have to list it out?
Confirmed, you don't have to do anything with your taxes in this case.

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