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First Time Home Buyers Program (BC)

First Time Home Buyers Program (BC)

Old Apr 26th 2018, 8:37 pm
  #16  
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Default Re: First Time Home Buyers Program (BC)

Originally Posted by MrsTrippy
It appears that the following statement is true - You are considered a first-time home buyer if, in the four year period, you did not occupy a home that you or your current spouse or common-law partner owned.

That's ok, my husband hasn't owned one since 2011.
As long as you understand the Federal program is all about RRSP withdrawls. I guess that's what Siouxie was getting wound up about.
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Old Apr 26th 2018, 9:12 pm
  #17  
 
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Default Re: First Time Home Buyers Program (BC)

Originally Posted by MrsTrippy
It appears that the following statement is true - You are considered a first-time home buyer if, in the four year period, you did not occupy a home that you or your current spouse or common-law partner owned.

That's ok, my husband hasn't owned one since 2011.
For the Home Buyers Plan, but not for the provincial property transfer tax exemption. Your posts have not been very clear and you seem somewhat confused about what you are seeking. The HBP is using your own money out of an RRSP, the tax exemption is saving the property transfer tax, which can be several thousand $ and requires the home purchaser to make a declaration that they have never owned a property anywhere in the world, ever. You may want to seek advice from your lawyer when making a purchase.
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Old Apr 26th 2018, 9:47 pm
  #18  
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Default Re: First Time Home Buyers Program (BC)

Originally Posted by neill
As long as you understand the Federal program is all about RRSP withdrawls. I guess that's what Siouxie was getting wound up about.
I wasn't wound up in the slightest.

The OP quoted regarding the First Time Home Owners Tax Credit and agreed with Aviator that that is what they were looking for. I posted links to that and the Home Buyers Plan and explained that the HBP was for RRSP withdrawal and explained that it was a Federal Program, not BC specific.

I then commented that I was not able to qualify for the First Time Home Owners Tax Credit despite not owning a house for 11 years which is what the OP had asked if anyone had qualified for despite previously owning a house in their opening post.

Perhaps the OP would like to specify exactly what they were / are hoping to apply for.. so that there is no further confusion.


Last edited by Siouxie; Apr 26th 2018 at 9:50 pm.
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