Canada Revenue Agency

Canada Revenue Agency

April 19, 2012 11:57 ET

Home Owners: Claim Your Credits

OTTAWA, ONTARIO--(Marketwire - April 19, 2012) -

Did you know?

Home owners may benefit from certain non-refundable tax credits when filing their income tax and benefit return.

Important facts

- First-time home buyer's tax credit: If you are a first-time home buyer, a person with a disability buying a home, or an individual buying a home on behalf of a related person with a disability, you may be able to claim a non-refundable tax credit of up to $750 when you buy a qualifying home.

- Non-refundable tax credits can only be used to reduce your federal income tax payable. If the total of your non-refundable tax credits is more than your federal income tax payable, you will not receive a refund for the difference.

- Other credits and deductions may be available to you. For more information, go to www.cra.gc.ca/myhome.

The CRA's online services make filing even easier

With the CRA's online services you can file your return, track your refund, and change your personal information. You can also sign up for direct deposit to receive your refund in your account at your Canadian financial institution - no more waiting for cheques to arrive in the mail. It's fast, easy, and secure. For more information, go to www.cra.gc.ca/getready.

Stay connected

To receive updates when new information is added to our Web site, you can:

- Follow the CRA on Twitter - @CanRevAgency

- Subscribe to a CRA electronic mailing list.

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You can also visit our YouTube Channel for tax-related videos.

Contact Information

  • Noel Carisse
    Media Relations
    Canada Revenue Agency
    613-952-9184