---
title: Tax Credits for First Time Home Buyers
description: Line 369 of your Personal Tax return allows a deduction of $5,000 for the purchase of a qualifying home for first time home buyers in Canada.
---

[Richards Mortgage Group Blog ](https://www.richardsmortgagegroup.ca/blog)

# [Tax Credits for First Time Home Buyers](https://www.richardsmortgagegroup.ca/blog/bid/144978/tax-credits-for-first-time-home-buyers)

 Written by [Chris Richards](https://www.richardsmortgagegroup.ca/blog/author/chris-richards) | Mar 14, 2013 2:43:00 PM

# $5,000 Tax Credit When You Make a Purchase of a Qualifying Home.

*Last updated: May 2019*

Well, it's tax time and the Canada Revenue Agency wants to let you know that first time home buyers are eligible to get some cash back when they file their taxes under a program called the Home Buyer Tax Credit or HBTC.

You will qualify for the HBTC if:

- you or your spouse or common-law partner acquired a home that you occupy; and
- you did not live in another home owned by you or your spouse or common-law partner in the year of acquisition or in any of the four preceding years.

There are some other exceptions, for example if you are a person with a disability or are buying a house for a related person with a disability, you do not have to be a first-time home buyer. 

$5000 looks like a big number as it's a deduction from income. What it really means is about **$750 extra in your pocket**.

[CRA website link](https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-369-home-buyers-amount.html)

 

[Can you mortgage qualify? Find out here.](https://www.richardsmortgagegroup.ca/can-i-get-a-mortgage-canada)

[View full post](https://www.richardsmortgagegroup.ca/blog/bid/144978/tax-credits-for-first-time-home-buyers)

```json
{
  "@context" : "http://schema.org",
  "@type" : "BlogPosting",
  "author" : {
    "@type" : "Person",
    "name" : "Chris Richards"
  },
  "dateModified" : "2019-04-30T23:33:38.775Z",
  "datePublished" : "2013-03-14T14:43:00Z",
  "headline" : "Tax Credits for First Time Home Buyers",
  "image" : {
    "@type" : "ImageObject",
    "url" : "http://www.cra-arc.gc.ca/gncy/t1gtrdy/images/frst-tm-hmbrs-100x92.jpg"
  },
  "mainEntityOfPage" : "https://www.richardsmortgagegroup.ca/blog/bid/144978/tax-credits-for-first-time-home-buyers",
  "publisher" : {
    "@type" : "Organization",
    "logo" : {
      "@type" : "ImageObject",
      "height" : 60.0,
      "url" : "https://www.richardsmortgagegroup.ca/hubfs/file-2071180059-1.png",
      "width" : 106.66667
    },
    "name" : "Articles"
  }
}
```