The First Time Home Buyer Bonus Program was introduced early this year and has been approved by legislature yesterday. Applicants will apply through the BC Ministry of Finance for the bonus. Application forms and details of the program can be found at BC Ministry of Finance www.fin.gov.bc.ca. Once approved, the first time new home buyers will get income tax credit up to a maximum of $10,000.
For those first time new home buyers, here's the good news - the Provincial Government has announced a one-time refundable personal income tax credit worth up to $10,000 for first time new home buyers, effective February 21, 2012, to March 31, 2013. However, the program is not yet implemented and subject to approval by the legislature. The government will announce the result later.
Interlink Realty
#225 8291 Alexandra Rd
Richmond, BC V6X 1C3
