Many taxpayers overpay their taxes simply because they fail to claim some of the common deductions and credits they are entitled to. As a homeowner, there are several home tax deductions and credits that you can claim. Before you submit your next return, check the following list. It represents the most frequently overlooked tax breaks available to typical working Canadians. First-time home buyer’s tax credit If you are buying a home for the first time, you can claim a... [read more]

The March 19 2019 Federal budget offered help to young homebuyers, many of whom find it very difficult to afford to purchase in some of our more expensive cities. There were two measures targeted at first-time homebuyers: Maximum Withdrawal from RRSPs Is Increased The simplest to understand is the $10,000 increase in the federal Home Buyers' Plan (HBP) maximum tax-free withdrawal... [read more]