B.C. First Time New Home Buyers Bonus

Subject to approval by the legislature, the B.C. government has announced plans to implement a temporary BC First-Time New Home Buyers’ Bonus. Effective February 21, 2012, to March 31, 2013, the bonus is a one-time refundable personal income tax credit worth up to $10,000.

Purchasers will qualify as a first-time new home buyer if:

  • You purchase or build an eligible new home located in B.C.
  • You, or for couples, you and your spouse or common law partner, have never previously owned a primary residence
  • You file a 2011 B.C. resident personal income tax return, or if you move to B.C. after December 31, 2011, you file a 2012 B.C. resident personal income tax return (you will not be eligible for the bonus if you move to B.C. after December 31, 2012)
  • You are eligible for the B.C. HST New Housing Rebate
  • You intend to live in the home as your primary residence

    • For full information the B.C. First Time Home Buyers Fact Sheet is below. If you had any questions on this or any of the other home buyer grants and rebates offered don’t hesitate to contact me.

    2012 First Time Home Buyers Fact Sheet