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6 \% `' p0 b7 F" B. V9 t1. What is the Home Buyers' Tax Credit (HBTC)?% n* p( n! G l/ c8 K% j2 U! q
For 2009 and subsequent years, the budget proposes to introduce a new non-refundable tax credit, based on an amount of $5,000, for certain home buyers that acquire a qualifying home after January 27, 2009 (i.e., closing after this date).
7 f: z6 { ]$ ?0 ]2 f0 X6 l7 |, O k5 T2. How is the new HBTC calculated?
+ e: j: o" y0 D gThe 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.; k5 x) q' K6 N: k8 s
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Beginning with the 2009 personal income tax return, a new line will be incorporated to allow you to claim the credit.
" @( D9 J5 r* t% d! x9 X% ^ from http://www.cra-arc.gc.ca/gncy/bdgt/2009/fqhbtc-eng.html |
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