Home is Where the Tax Savings Are
Home is where the heart is. But did you know that your home may be housing some considerable tax benefits as well? This month’s Kurve takes you through a tax-tip tour of your home.
Various tax credits, rebates, exemptions and programs are available to homeowners in several different scenarios. First-time home purchasers, those renovating or selling their home and individuals who are elderly and those who have a disability could qualify. Knowing who can claim these benefits, what exactly can be claimed and when to claim them is crucial in order to make the best use of them. Learn more about the Federal Home Accessibility Tax Credit, the Home Buyers’ Amount, the GST/HST New Housing Rebate, the Home Buyers’ Plan, the Principle Residence Exemption and Home Office Deduction.