Personal Finance

How can I get my First-Time Home Buyers' Tax credit back?

  • Last Updated:
  • Feb 26th, 2012 9:43 pm
Newbie
Jul 2, 2009
15 posts
1 upvote

How can I get my First-Time Home Buyers' Tax credit back?

I bought my first home in Canada in 2010 and my annual income was about $37,000 for that year. When I filed my income tax report last year nobody told me I was qualified for the $5000 First-Time Home Buyers' tax credit. So I did not make any claim on it.

Does anyone know what I can do when I file my income tax report this year to have that tax credit back?

Thanks in advance for the reply.
:)
4 replies
Deal Addict
Dec 31, 2006
1420 posts
297 upvotes
File a T1 Adjust on your prior year return.
Deal Fanatic
User avatar
Jul 23, 2005
5983 posts
159 upvotes
i thought ur lawyer was supposed to do that for you

do you still have to claim it on the next year's tax return as well?
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Deal Fanatic
Apr 20, 2011
7747 posts
2750 upvotes
ON
Tomy wrote: i thought ur lawyer was supposed to do that for you

do you still have to claim it on the next year's tax return as well?
That's the land transfer tax reduction, applied for via lawyer.
This is a one-time $5000 credit (Max $750 cash) applied for in the first year of purchase/residency

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