A New First-Time Home Buyers' Tax Credit
Québec will introduce a new tax deduction this year that will allow Quebecers to receive up to $750 for the purchase of a first home.
This non-refundable tax credit is intended to mitigate the impact of expenses not included in the mortgage for the purchase of a first property and will be applicable to properties acquired on or after January 1, 2018.
The eligibility criteria for this new non-refundable tax credit will be similar to those for the Home Buyers' Plan (HBP) : to take advantage of it, you must not have owned a home in the four years preceding the transaction.
Finance Minister Carlos Leitao expects 47,000 families to benefit from this measure.
