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First Time Home Buyers Tax Credit

First time home buyers in Canada that acquire a qualifying home after January 27 2009 can claim a 15% non-refundable tax credit up to $5000 for a total maximum credit of $750.00 If a home is jointly purchased the total credit that may be claimed by all purchasers is $750.00 The unused portion of the credit can be transferred to a spouse or common-law partner. First time homebuyers can apply for this credit directly though their accountant.