Top BC Home Owner Grants & Rebates
Qualifying home buyers can withdraw up to $25,000 (couples can withdraw up to $50,000) from their RRSPs for a down payment. Home buyers who have repaid their RRSP may be eligible to use the program a second time.
Canada Revenue Agency
www.cra.gc.ca.
New home buyers can apply for a rebate of the federal portion of the HST (the 5% GST) if the purchase price is less than $350,000. The rebate is up to 36% of the GST to a maximum rebate of $6,300. There is a proportional GST rebate for new homes costing between $350,000 and $450,000.
Canada Revenue Agency
www.cra-arc.gc.ca.
Qualifying first-time buyers may be exempt from paying the PTT of 1% on the first $200,000 and 2% on the remainder of the purchase price of a home priced up to $475,000. There is a proportional exemption for homes priced up to $500,000.
BC Ministry of Small Business and Revenue.
www.rev.gov.bc.ca/rpt This is a non-refundable income tax credit for qualifying buyers of detached, attached, apartment condominiums, mobile homes or shares in a cooperative housing corporation.
Canada Revenue Agency
www.cra.gc.ca/hbtc Reduces school property taxes by up to $570 on properties with an assessed value up to $1,050,000.
BC Ministry of Small Business and Revenue
www.rev.gov.bc.ca/hog or contact your municipal tax office.
Property Tax Deferment Program for Seniors. Qualifying home owners aged 55+ may be eligible to defer property taxes.
Financial Hardship Property Tax Deferment Program. Qualifying low-income home owners may be eligible to defer property taxes.
Property Tax Deferment Program for Families with Children. Qualifying low-income home owners who financially support children under age 18 may be eligible to defer property taxes.
BC Ministry of Small Business and Revenue
www.sbr.gov.bc.ca and enter ‘Property tax deferment’ in the search box or contact your municipal tax office.
Residential Rehabilitation Assistance Program (RRAP) Grants. This federal program provides financial aid to qualifying low-income home owners to repair substandard housing. Eligible repairs include heating, structural, electrical, plumbing and fire safety. Grants are available for seniors, persons with disabilities, owners of rental properties and for the creation of secondary and garden suites.
www.cmhc-schl.gc.ca/en/co/prfinas/prfinas_001.cfm Provides home buyers with CMHC mortgage insurance, a 10% premium refund and possible extended amortization without surcharge when buyers purchase an energy efficient home or make energy savings renovations.
www.cmhc.ca/en/co/moloin/moloin_008.cfm#renoEfficiency Incentive ProgramHome owners improving the energy efficiency of their homes who hire a certified energy advisor may qualify for cash incentives through this provincial program provided in partnership with Terasen Gas, BC Hydro, and FortisBC.
www.livesmartbc.ca/rebatesHome owners and residential landlords buying heating fuel receive a BC government point-of-sale rebate on utility bills equal to the provincial component of the HST.
http://hst.blog.gov.bc.ca/faqs/energy-credit
This ongoing program rebates BC Hydro customers $30 to turn in spare fridges measuring 10 - 24 cubic feet in working condition.
www.bchydro.com/rebates_savings/fridge_buy_back.html
To save energy, BC Hydro offers rebates including 10% off an ENERGY STAR cordless phone; 50% off an E2™dual-flush toilet; $15 off a clothes drying rack; and 50% off Earth Massage showerheads. Check for deadlines.
https://www.bchydro.com/rebates_savings/coupons.htmlA range of rebates for home owners include a $25 gift cards for furnace servicing; $50 rebates for upgrading a water heater; $150 rebate on an EnerChoice fireplace; $1,000 rebate for switching to natural gas and installing an ENERGY STAR heating system.
www.terasengas.com/homes/Offers/LowerMainlandSquamish.html
