First time buyers have access to several tax incentives when investing in real estate in Canada. Not only can they take advantage of the recent dip in housing prices and the record low interest rates offered by lenders, but they will also see savings when it comes time to file income taxes.The Canadian government is providing a new tax credit program giving 1st time buyers a $750 tax relief for costs associated with the purchase of a home.Your legal fees and land transfer taxes can now be claimed under this initiative.Starting with your 2009 personal income tax return, a new line will be incorporated to allow you to claim the credit.If you are a first time buyer and have any questions about investing in real estate, please feel free to contact me today.I can guide you through this process from start to finish.
Cortney Lessard
604-616-2678
Cortney@Cortney.ca
(For more info about 'Closing Costs' when buying real estate, click here.)
