HOME BUYERS AMOUNT
Important information about Home Buyers Amount or HBA.
A claim for $5000.00 can be made for the Home Buyers Amount (HBA) on Line 369 of the Schedule 1, if:
1.you or your spouse or common-law partner acquire a qualifying home after January 27, 2009, (closing after this date); and
2.you did not live in another home owned by you or your spouse or common-law partner in the year of acquisition or any of the four preceding years (first-time home buyer).
A qualifying home can be considered one of the following:
- single-family houses;
- semi-detached houses;
- mobile homes;
- condominium units; and
- apartments in duplexes, triplexes, four-plexes, or apartment buildings.