Knowledge centre
Yes. Ontario’s land-transfer-tax refund has spouse-related rules, so “I personally never owned” is not always enough. The maximum refund is $4,000 for qualifying transactions, but the lawyer should confirm eligibility before it is included in cash-to-close estimates.
Ontario’s temporary enhanced new housing rebate is broader than a first-time-buyer program. For qualifying builder agreements from April 1, 2026 through March 31, 2027, it can provide up to $80,000 of provincial HST relief. An eligible claimant may also receive ONHAP of up to $50,000, subject to the federal rebates already available.
Ontario’s first-time home buyer rebate is now available and can provide up to $80,000 of relief from the 8% provincial part of HST for an eligible first home. It follows the federal first-time-buyer rebate’s eligibility conditions and applies to qualifying new, owner-built or substantially renovated homes—not an ordinary resale purchase.
Applications are open. An eligible first-time buyer of a new or substantially renovated home can recover up to 100% of the federal GST or federal part of HST, to a maximum of $50,000, on a home valued at $1 million or less. The rebate phases down between $1 million and $1.5 million and is nil at $1.5 million or more.
Yes. CRA permits an eligible buyer to make an FHSA qualifying withdrawal and an HBP withdrawal for the same qualifying home when all conditions for each program are met. The best mix depends on available savings, tax position, repayment capacity and closing timing.
The Home Buyers’ Plan currently permits an eligible person to withdraw up to $60,000 from their own RRSPs for a qualifying home. It is not free money: repayments normally run over 15 years, and CRA’s temporary relief changes the first repayment year for qualifying withdrawal dates.
An FHSA can combine a tax deduction for eligible contributions with a tax-free qualifying withdrawal. The first year’s participation room is $8,000 and the general lifetime limit is $40,000, but the account, contribution room, withdrawal conditions and closing timeline all need attention.
Yes, a qualifying first-time buyer can apply for a 30-year amortization on an insured mortgage. It can reduce the required payment, but it may increase total interest and it does not relax the lender’s income, credit, property or insurer review.
The statutory minimum is generally 5% on the first $500,000 and 10% on the portion above $500,000 when the purchase price is below $1.5 million. At $1.5 million or more, the stated minimum is 20%. A lender or insurer can still require more.
There is no single first-time-buyer test for every mortgage, tax and rebate program. A person can qualify under one program and fail another, so check the definition before counting the benefit in the purchase plan.