1st Time Home Buyers Tax Credit (HBA)
Monday Feb 22nd, 2021
ShareThe Home Buyers’ Amount (HBA) is a non-refundable credit that allows first-time purchasers of homes, and purchasers with disabilities, to claim up to $5,000 in the year when they purchase a home. The non-refundable tax credit rate of 15% means the actual reduction of your taxes will be $750. If your federal taxes are less than $750, your credit will be reduced accordingly since it is a non-refundable credit. You can divide the credit between your return and your spouse or common-law... [read more]
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