agr

If you follow the first link you'll see that you are eligible if you haven't lived in a home you owned either this year or in any of the four preceding years. There are no geographical terms, so I assume that means worldwide.

Edited to add: the renovation thing is only relevant in the case of HST being charged I think.

helcat12

Well, we did live in a home we owned last year before coming to Canada, so I assume we are ineligible.

Apparently, some homeowners WILL go unincentivised and it is us !

el_richo

Out of curiousity, how do they know you owned a house if you don't tell them?

agr

They talk to HMRC. At least, it's always safest to assume they do.

helcat12

I wouldn't want to claim anything I a not entitled to and then be done for tax fraud later.

Canadian government departments have so much info on us from the immigration process I would be surprised if there was anything they didn't know about me.

JonboyE

BC also has a temporary FTHB income tax credit of up to $10,000 but a) you have to have been resident in BC for a year, and it expires 03/31/13. As with the PTT exemption it is never, anywhere.

Alan2005

When you transfer your cash over (and it's a large enough sum) then most brokers will (should) ask where the money came from to comply with legislation preventing money laundering. I would guess that most people will say 'house sale'.

JonboyE

Yes, no eligibility criteria for the buyer but the HST rebate is only available on new or substantially renovated homes up to certain maximum amounts.

Substantially renovated means, as a minimum, stripped back to the studs.

el_richo

Aaaah. We just sold a place in London but are keeping the cash there cos we get much for for our money.

Wonder how diligent they are if we transfer a chunk over well after we buy here?

JonboyE

http://www.sbr.gov.bc.ca/documents_l...eHomeBuyer.pdf

Penalty for False Declaration

If you are claiming an exemption or refund, you may be charged an amount equal to double the tax (the tax you owe plus a penalty equal to the exemption or refund you claimed) if you falsely declare:

that you have never owned an interest in a principal residence anywhere in the world at any time, or

that you have never received a BC first time home buyers’ tax exemption or refund.



And:

http://www.cra-arc.gc.ca/tx/ndvdls/t.../menu-eng.html

False statements or omissions penalty

You may have to pay a penalty if you, knowingly or under circumstances amounting to gross negligence, have made a false statement or omission on your 2011 return.

The penalty is equal to the greater of:

$100; and
50% of the understatement of tax and/or the overstatement of credits related to the false statement or omission.


HTH.

el_richo

Cheers JB

helcat12

I seem to have gone through my whole life so far never qualifying for any handouts, rebates, tax breaks or other government incentives.

What sort of government incentive do you get for being a hard-working, employable individual who pays their bills on time, doesn't commit any crime, take drugs or have a tribe of unruly, illegitimate children by multiple fathers ?

Please direct me to the website for that, if you would.

dbd33

Such people, if any exist, would not need a government incentive, they could float around on their little cloud of superiority without havig to dabble with officialdom. Government is better exercised trying to help those in need.

The4BellsLondon

unincentivized?

helcat12

Yes, I am not sure about this word either, but if the North Americans use it, when in Rome.......