Arthur Zhao · AZ Real Estate Partners

Program
First-time home buyers may be eligible for a non-refundable federal tax credit (the Home Buyers’ Amount, line 31270 of the tax return)
for closing costs.

Details
• To assist first-time home buyers with the costs related to the purchase of a home.

• Updated October 2026: since the 2022 tax year you can claim up to $10,000. The credit is worth the lowest federal tax rate on that amount: up to $1,400 for 2026 purchases (14%), $1,450 for 2025 (14.5%) and $1,500 for 2022–2024 (15%). Before 2022 the limit was $5,000 ($750 of tax relief).

• Applicable to first-time buyers purchasing a home closing after January 27, 2009.

• The FTHBC is claimable for the taxation year in which the home is acquired.

• An individual will be considered a first-time home buyer if neither the individual nor the individual’s spouse or common-law partner owned and lived in another home in the calendar year of the home purchase or in any of the four preceding calendar years.

Source: Canada Revenue Agency – Line 31270 – Home buyers’ amount