First Time Home Buyers Tax Credit
Know as the HBTC, this federal tax credit is meant to help new buyer with the cost of closing, such as legal fees. The amount is based on income and there is a maximum exemption of $5,000 resulting in a maximum tax refund of $750.
To see if you qualify check out the Canada Revenue website:
http://www.cra-arc.gc.ca/gncy/bdgt/2009/fqhbtc-eng.html
