Real Estate

Do I quality for the First Home Buyer Grants

  • Last Updated:
  • Aug 12th, 2017 4:43 pm
[OP]
Newbie
Jul 23, 2017
2 posts

Do I quality for the First Home Buyer Grants

We own a home overseas. Do we still qualify for the First Home Buyer's Grant when we buy our first home in Ontario?
14 replies
Jr. Member
Feb 16, 2017
148 posts
31 upvotes
helpmetoronto wrote:
Aug 5th, 2017 5:36 pm
We own a home overseas. Do we still qualify for the First Home Buyer's Grant when we buy our first home in Ontario?
The bank will determine if you are first time home buyer or not based on your SIN number or other details they have .. But to answer your question no banks here will not be able to determine about your overseas house so you are a first time buyer and you are good to buy a house and get the benefits of land transfer tax bla bla bla !
Member
User avatar
Nov 23, 2014
217 posts
106 upvotes
helpmetoronto wrote:
Aug 5th, 2017 5:36 pm
We own a home overseas. Do we still qualify for the First Home Buyer's Grant when we buy our first home in Ontario?
Yes,you are eligible
The real estate lawyer who is involved in the transaction check the ownership records and determines if you have no property anywhere in Canada/Ontario
In Ontario,you will get upto $4,000 rebate on land transfer tax and HST Rebate on new builds
Deal Addict
Jul 3, 2011
4198 posts
1474 upvotes
Thornhill
People! Stop handing out advice unless you actually know what they're talking about.

It's easy to speak off the top of one' head with no skin in the game but the person taking the bad advice is playing a nasty game of fraud roulette with the government.

http://www.forms.ssb.gov.on.ca/mbs/ssb/ ... /0300E.pdf

These are the programs for first time homebuyers.

https://www.cmhc-schl.gc.ca/en/co/buho/buho_008.cfm
Member
Mar 3, 2016
281 posts
133 upvotes
It always refers to owning property anywhere in the world, whether by CRA for RRSP withdrawal, or by the ON and BC govt for the reduction in land transfer tax. Even for CRA, it never says anywhere it's only referring to Canada. Of course, you can lie to the government but you'll have to face the consequence of doing so.


http://www2.gov.bc.ca/gov/content/taxes ... ome-buyers

http://www.fin.gov.on.ca/en/bulletins/l ... quirements

https://www.canada.ca/en/revenue-agency ... -plan.html
Member
Mar 3, 2016
281 posts
133 upvotes
mattdominic wrote:
Aug 5th, 2017 5:46 pm
The bank will determine if you are first time home buyer or not based on your SIN number or other details they have .. But to answer your question no banks here will not be able to determine about your overseas house so you are a first time buyer and you are good to buy a house and get the benefits of land transfer tax bla bla bla !
Really? How do they do that? Care to show some references online where they say they do that?
Jr. Member
Feb 16, 2017
148 posts
31 upvotes
how do u think they will find out ? if they find out ur gonna pay fine up to 4,000$ and you always can defend yourself saying you don't about this and you thought only in Canada !
Deal Addict
Jul 3, 2011
4198 posts
1474 upvotes
Thornhill
mattdominic wrote:
Aug 6th, 2017 11:16 am
how do u think they will find out ? if they find out ur gonna pay fine up to 4,000$ and you always can defend yourself saying you don't about this and you thought only in Canada !
So you're advocating lying to the government of Canada and committing tax fraud.

Meanwhile you're the same dude on another thread complaining about fake buyers and brokeraages lying about fake offers.
Jr. Member
Feb 16, 2017
148 posts
31 upvotes
licenced wrote:
Aug 6th, 2017 11:52 am
So you're advocating lying to the government of Canada and committing tax fraud.

Meanwhile you're the same dude on another thread complaining about fake buyers and brokeraages lying about fake offers.
No i didn't tell you to lie i am asking you the same question ! i don't know about this program my bank mortgager found out himself i am a first time buyer ..he even didn't ask me about my properties at home so why do i even bother when someone doesn't even ask me ?? everyone in canada doesnt have knowledge like you to go and search in google and find right urls and find the answers
Sr. Member
Feb 11, 2009
833 posts
138 upvotes
In terms of the Land Transfer Tax Refunds for First-Time Homebuyers, one of the many pieces of paper I had to a sign at the Lawyer's office was an affidavit swearing that I did not own property anywhere in the world before.
Deal Fanatic
User avatar
Oct 23, 2003
6417 posts
628 upvotes
4seasonscentre wrote:
Aug 7th, 2017 4:27 pm
In terms of the Land Transfer Tax Refunds for First-Time Homebuyers, one of the many pieces of paper I had to a sign at the Lawyer's office was an affidavit swearing that I did not own property anywhere in the world before.
what if something gets passed down to you as inheritance? You're a homeowner, but you never bought any property.
Member
Mar 3, 2016
281 posts
133 upvotes
Buggy166 wrote:
Aug 9th, 2017 1:54 am
what if something gets passed down to you as inheritance? You're a homeowner, but you never bought any property.
You should ask the proper government agency to confirm but, from what read, it's based on ownership, not purchase. So if you inherited your parent's house, you own it so won't qualify as first time home buyer.
Newbie
Mar 10, 2009
90 posts
69 upvotes
Toronto
mattdominic wrote:
Aug 5th, 2017 5:46 pm
The bank will determine if you are first time home buyer or not based on your SIN number or other details they have .. But to answer your question no banks here will not be able to determine about your overseas house so you are a first time buyer and you are good to buy a house and get the benefits of land transfer tax bla bla bla !
mattdominic wrote:
Aug 6th, 2017 12:08 pm
No i didn't tell you to lie i am asking you the same question ! i don't know about this program my bank mortgager found out himself i am a first time buyer ..he even didn't ask me about my properties at home so why do i even bother when someone doesn't even ask me ?? everyone in canada doesnt have knowledge like you to go and search in google and find right urls and find the answers
If you don't know the answer to the question or you "don't have the knowledge to go search in Google to find the right URLs and find the answers" then do everyone a favour and DON'T POST a comment that is spreading misinformation and is WRONG to begin with.
Member
Jul 16, 2006
311 posts
137 upvotes
imperial1 wrote:
Aug 9th, 2017 9:38 am
If you don't know the answer to the question or you "don't have the knowledge to go search in Google to find the right URLs and find the answers" then do everyone a favour and DON'T POST a comment that is spreading misinformation and is WRONG to begin with.
Don't have the knowledge to search in google. GOLD!
Jr. Member
Feb 16, 2017
148 posts
31 upvotes
rich24 wrote:
Aug 9th, 2017 10:31 am
Don't have the knowledge to search in google. GOLD!
of course if google says everything with out search strings we won't be here asking questions to each other very basic stainless steel answer not a BRONZE or GOLD

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