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$750 First Time Home Owner Tax Credit

1K views 3 replies 2 participants last post by  Flash 
#1 ·
Hi,

Does anyone know if this is like the GST/HST rebate some people get where the government cuts you a check?

Or is the $750 simply a tax reduction, so if I owe in 10K in taxes, I would pay 9.25K instead.

Is this credit able to go towards Property Taxes on the house you live in?
 
#4 ·
Ah lol. Thought it was something else. Pretty sure it's just a 5000 in non-refundable tax credit. So at tax time it just reduces the amount owing.

What I'm not sure about is if this credit can be postponed to future years, like donations. (which are 5 years)
 
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