Top 21 grants and rebates for property buyers and owners
1 Home Buyers’ Plan Qualifying home buyers
can withdraw up to $25,000 (couples can withdraw up to $50,000) from their RRSPs for a down payment. Home buyers who have repaid their RRSP may be eligible to use the pro- gram a second time.
Canada Revenue Agency www.cra.gc.ca. Enter ‘Home Buyers’ Plan’ in the search box. 1.800.959.8287
2 GST Rebate on New Homes
New home buyers can apply for a rebate of the federal portion of the HST (the 5% GST) if the purchase price is less than $350,000. The rebate is up to 36% of the GST to a maximum rebate of $6,300. There is a proportional GST rebate for new homes costing between $350,000 and $450,000.
Canada Revenue Agency www.cra-arc.gc.ca. Enter ‘RC4028’ in the search box. 1.800.959.8287
3 BC New Housing Rebate (HST)
Buyers of new or substantially renovated homes priced up to $525,000 are eligible for a rebate of 71.43% of the pro- vincial portion (7% of the 12% HST) paid to a maximum re- bate of $26,250. Homes priced at $525,000+ are eligible for a flat rebate of $26,250.
http://hst.blog.gov. bc.ca/ faqs/new-housing-rebate 1.800.959.8287
4 BC New Rental Housing Rebate (HST)
Landlords buying new or sub- stantially renovated homes are eligible for a rebate of 71.43% of the provincial portion of the HST, up to $26,250 per unit.
http://hst.blog.gov.bc.ca/ faqs/new-housing-rebate 1.800.959.8287
Property Transfer Tax
5 (PTT) First Time Home Buyers’ Program
Qualifying first-time buyers may be exempt from pay- ing the PTT of 1% on the first $200,000 and 2% on the remainder of the purchase price of a home priced up to $425,000. There is a propor- tional exemption for homes priced up to $450,000.
BC Ministry of Small Business and Revenue. www.rev.gov.bc.ca/rpt 250.387.0604
6 First-time Home Buyers Tax Credit (HBTC)
This is a non-refundable in- come tax credit for qualifying buyers of detached, attached, apartment condominiums, mobile homes or shares in a co- operative housing corporation. It’s calculated by multiplying the lowest personal income tax rate for the year (15% in 2009) by $5,000. For 2009, the maxi- mum credit was $750.
Canada Revenue Agency www.cra.gc.ca/hbtc 1.800.959.8281
7 BC Home Owner Grant Reduces school property
taxes by up to $570 on proper- ties with an assessed value up to $1,050,000. For 2010, the basic grant is reduced by $5 for each $1,000 of value over $1,050,000, and eliminated on homes assessed at $1,164,000+. An additional grant reduces property tax by a further $275 for a total of $845 for seniors, veterans and the disabled.
This is reduced by $5 for each $1,000 of assessed value over $1,050,000 and eliminated on homes assessed at $1,219,000+.
BC Ministry of Small Business and Revenue www.rev.gov.bc.ca/hog or contact your municipal tax office.
8 BC Property Tax Deferment Programs
Property Tax Deferment Pro- gram for Seniors. Qualifying home owners aged 55+ may be eligible to defer property taxes.
Financial Hardship Property Tax Deferment Program. Qualifying low-income home owners may be eligible to defer property taxes.
Property Tax Deferment Program for Families with Children. Qualifying low- income home owners who financially support children under age 18 may be eligible to defer property taxes.
BC Ministry of Small Business and Revenue. www.sbr.gov.bc.ca and enter ‘Property tax deferment’ in the search box or contact your municipal tax office.
9 Canada Mortgage and Housing (CMHC)
Residential Rehabilitation Assistance Program (RRAP) Grants. This federal program provides financial aid to qualifying low-income home owners to repair substandard housing. Eligible repairs include heating, structural, electrical, plumbing and fire safety. Grants are available for seniors, persons with disabilities, owners of rental properties and for the creation of secondary and garden suites.
www.cmhc-schl.gc.ca/en/ co/prfinas/prfinas_001.cfm 1.800.668.2642 | 604.873.7408
10 CMHC Mortgage Loan Insurance Premium Refund
Provides home buyers with CMHC mortgage insurance, a 10% premium refund and possible extended amortization without surcharge when buyers purchase an energy efficient home or make energy savings renovations.
www.cmhc.ca/en/co/moloin/ moloin_008.cfm#reno 604.731.5733
11 LiveSmart BC: Efficiency Incentive Program
Home owners improving the energy efficiency of their homes who hire a certified energy advisor may qualify for cash incentives through this provincial program provided in partnership with Terasen Gas, BC Hydro, and FortisBC.
www.livesmartbc.ca/rebates
1.866.430.8765
12 BC Residential Energy Credit
Home owners and residential landlords buying heating fuel receive a BC government point-of-sale rebate on utility bills equal to the provincial component of the HST.
http://hst.blog.gov.bc.ca/faqs/ energy-credit 604.660.4524
13 BC Hydro Appliance Rebates
Mail-in rebates of $25 - $50 for purchasers of ENERGY STAR clothes washers, re- frigerators, dishwashers, or freezers between June 1, 2010 and March 31, 2011, or when funding for the program is exhausted. www.bchydro.com/rebates_ savings/appliance_rebates.html 1.800.224.9376
14 BC Hydro Fridge Buy-Back Program(different from Appliance rebates)
This ongoing program rebates BC Hydro customers $30 to turn in spare fridges measuring 10 - 24 cubic feet in working condition.
www.bchydro.com/rebates_ savings/fridge_buy_back.html 604.881.4357
15 BC Hydro Windows Rebate Program
Customers can save $100 per window on BC made EN- ERGY STAR windows until August 18, 2010.
www.bchydro.com/rebates_ savings/current_offers.html
16 BC Hydro Mail-in Rebates/Savings Coupons
To save energy, BC Hydro of- fers rebates including 10% off an ENERGY STAR cordless phone; 50% off an E2TMdual- flush toilet; $15 off a clothes drying rack; and 50% off Earth Massage showerheads. Check for deadlines.
http://www.bchydro.com/ rebates_savings/coupons.html 1.800.224.9376
17 Terasen Gas Rebate program
A range of rebates for home owners include a $25 gift cards for furnace servicing; $50 rebates for upgrading a water heater; $150 rebate on an Ener- Choice fireplace; $1,000 rebate for switching to natural gas and installing an ENERGY STAR heating system.
www.terasengas.com/homes/ Offers/LowerMainland- Squamish.html 1.888.224.2710
18 SolarBC Incentives
Contractors will provide home owners buying
a solar hot water system with a $2,000 discount at the point of sale until December 31, 2010.
www.solarbc.ca/learn/ incentives-costs 1.866.650.6527
19 City of Vancouver Solar Homes Pilot
Offers $3,500 (about 50% of the cost) towards the cost of a solar hot water system for anyone building new homes in Vancouver. Offered by the City of Vancouver, SolarBC, Terasen Gas and Offsetters to 50 new homes on a first come, first served basis, January 2010
- March 2011, with building permits issued in 2010.
http://vancouver.ca/ sustainability/SolarHomes.htm 604.873.7748
20 RBC Energy-Saver Mortgage
Home owners who have a home energy efficient audit within 90 days of receiving an RBC Energy SaverTM Mortgage may qualify for a $300 rebate credited to their RBC account.
www.rbcroyalbank.com/ products/mortgages/energy- saver-mortgage.html 1.800.769.2511
21 Vancity Green Building Grant
In partnership with the Real Es- tate Foundation of BC, Vancity provides grants up to $50,000 each to qualifying charities, not-for-profit organizations and co-operatives for building renovations/retrofits, regula- tory changes that advance green building development, and education to increase the use of practical green building strategies.
https://www.vancity.com/ MyCommunity/ NotForProfit/Grants/ ActingOnClimateChange/ GreenBuildingGrant 604.877.7000