First home - Quebec
Starting in the 2018 taxation year, a non-refundable tax
credit of $750 will be granted to an individual for the purchase of
a first home.
The qualifying housing rules are identical to those of the
federal government.
We suggest you consult the following links:
For the CRA:
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
For Quebec:
https://www.revenuquebec.ca/en/citizens/tax-credits/home-buyers-tax-credit/
To apply for the First Home Buyers' Tax Credit, please follow
the steps below:
1. On the left-side menu of the " Interview "
tab, select the heading "Other deductions and credits".
2. On the page of the right, scroll to the group "Other
credits" and click on
the plus sign "+" icon located
to the right of the line "Home buyers' amount for the purchase
of a qualifying home (federal, Quebec)".
3. On the new page generated, for the line "Are you eligible
to claim the home buyers' amount and/or the Quebec first-time home
buyers' tax credit", answer "Yes".
4. Two choices will be proposed to you, the first for the
Federal level at the line " Select how you want to claim
the federal home buyers' amount on line 31270 ". You must
choose one of the four choices offered. If you choose "Claim
specified amount", you must enter the amount for your spouse
and your amount.
5. The second-choice concerns Quebec, for the line "Select if
you are eligible to claim the Quebec first-time home buyers' tax
credit on line 396 of the Quebec return". You must answer with
"Yes" or "No".
6. Then, you must answer the following questions.
7. On the last section of this page, you must choose who will
claim the tax credit for Quebec. Two choices are
available.
8. Please note that for the federal government,
the total amount of the $5,000 credit is shared, while
in Quebec it is the $750 credit that is shared. If you
choose "Claim specified amount", you must enter the 15%
tax credit of $5,000.
This credit may be claimed in whole or in part by your spouse.
The federal amount will be entered in line
31270 of the federal returns, whereas for Quebec
the tax credit will be entered in line 396 of the
return.
The TP-752.HA form will be generated by the
program.
Please note that if the new home is co-owned
by someone other than your spouse, you must enter the
information in the "Information about the other
owners" section.
Do not forget to indicate to the lines concerned to claim your
credit, and to enter the amount of your participation in the
purchase of the house.
ID: 20211001131041CA.xml
Webpage: KPA365-20211001131041CA.htm
