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+ R2 |8 [( p- ^: F1. What is the Home Buyers' Tax Credit (HBTC)?- _+ V% K) y4 p6 ^" L/ |
For 2009 and subsequent years, the budget proposes to introduce a new non-refundable tax credit, based on an amount of $5,000, for certain home buyers that acquire a qualifying home after January 27, 2009 (i.e., closing after this date).
7 m1 U1 w- q/ w" b/ y( ]+ v4 e9 E2. How is the new HBTC calculated?. U1 \5 c. s# W8 J5 v# |& G5 o
The HBTC is calculated by multiplying the lowest personal income tax rate for the year (15% in 2009) by $5,000. For 2009, the credit will be $750.
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9 v6 M# j/ y, }( ~; O1 a }( QBeginning with the 2009 personal income tax return, a new line will be incorporated to allow you to claim the credit.
; ]& V: r% |' K- N7 w6 [ from http://www.cra-arc.gc.ca/gncy/bdgt/2009/fqhbtc-eng.html |
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