Government of Canada homebuyer incentives and rebates

Purchasing a home can be both exciting and overwhelming. The Government of Canada offers a number of financial incentives to help you throughout the homebuying journey. Incentives for first-time buyers, tax credits, rebates and other programs are available. Find out which incentives might be right for you.

Home Buyers’ Amount

The Home Buyers’ Amount is a non-refundable tax credit that helps first-time homebuyers with some of the costs of purchasing a qualifying home. For an eligible individual, the credit reduces the federal income tax they may owe.

Go to the Home Buyers’ Amount webpage to see if you are eligible.

Home Buyers’ Plan

The Home Buyers' Plan (HBP) is a program that allows you to make a withdrawal from your registered retirement savings plans (RRSPs) to buy or build a qualifying home for yourself or for a specified disabled person. The HBP allows you to pay back the amounts withdrawn within a 15-year period.

Review the Home Buyers' Plan for more information.

First Home Savings Account

The First Home Savings Account (FHSA) is a registered plan that allows first-time homebuyers to save to buy or build their first home. Contributions are generally tax deductible and withdrawals for the purpose of buying or building a qualifying home are tax-free.

Go to the First Home Savings Account webpage for more information.

GST/HST New Housing Rebate

You may qualify for a rebate of part of the GST or HST that you paid on the purchase price or cost of building your new house, or the cost of substantially renovating or building a major addition onto your existing house, or on converting a non-residential property into a house.

Go to the GST/HST New Housing Rebate webpage to learn more about this rebate.