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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;
  • townhouses;
  • mobile homes;
  • condominium units; and
  • apartments in duplexes, triplexes, four-plexes, or apartment buildings.

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