1. Ontario Affordable Housing Program - Are you renting, at least 18 years old, income under $59,000/yr and your buying a home under $200K then you may qualify for 5% government grant towards your down payment. Each qualification per municipality varies -- click here for more details
2. Ontario Land Transfer Tax Refund New Construction - If you are a first time home buyer, buying a new construction property than you can get up to $2000 of your LTT rebated back to you upon closing. Download the form.
3. Ontario Land Transfer Tax Refund Resale - If you are a first time home buyer, buying a resale property than you can get up to $2000 of your LTT rebated back to you upon closing. Download the form. NOTE: As of May 1, 08 this bill is currently in its final phase of approval, all applications are kept on file for 2yrs until the bill passes.
4. GST New Housing Rebate - You may be able to claim a rebate for a portion of the GST you pay on the purchase price of cost of building your home if you buy a new or substantially renovated home, mobile home, floating or modular home from a builder or vendor. Or, you buy a share in capital stock of a co-operative housing corporation, or construct or substantially renovate your home (or hire someone). Download the form.
5. Home Buyers' Plan (HBP) - The HBP is a program that allows you to withdraw up to $20,000 per person from your registered retirement savings plans (RRSPs) to buy or build a qualifying home. Withdrawals that meet all conditions do not have to be included and there is no withholding tax. Download the form.
