First-Time Home Buyer Incentives Calculator (Canada)
First-time buyers in Canada can combine several programs: a federal tax credit, land transfer tax relief in some provinces, the GST/HST rebate on new homes, and tax-advantaged savings through the FHSA and the RRSP Home Buyers' Plan. Enter your purchase to see which ones apply and roughly what they're worth.
Calculator
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Tax credits and rebates
$5,500
Savings and RRSP programs are listed separately below
| Program | Value | Notes |
|---|---|---|
| Home buyers' amount (federal tax credit) | $1,500 | Claim up to $10,000 on line 31270; the credit is 15% of that. It reduces tax owing and isn't refundable. |
| Land transfer tax first-time buyer relief | $4,000 | Assumes the property contains one or two single family residences. |
| First Home Savings Account | $40,000 lifetime room | Up to $8,000 a year of tax-deductible contributions; qualifying withdrawals are tax-free. |
| RRSP Home Buyers' Plan | $60,000 max withdrawal | Borrow from your RRSP tax-free; repay over 15 years. |
Each program has its own eligibility rules, including the definition of a first-time buyer. Check each official source below before you rely on it.
Programs included
- Home buyers' amount: claim $10,000 on line 31270, a $1,500 federal tax credit.
- Land transfer tax relief in Ontario, B.C. and P.E.I.
- Federal GST/HST new housing and first-time buyer rebates on new homes.
- First Home Savings Account: up to $8,000 a year and $40,000 in total.
- Home Buyers' Plan: withdraw up to $60,000 from your RRSP and repay it over 15 years.
Programs no longer available
The federal First-Time Home Buyer Incentive (a shared-equity mortgage from CMHC) stopped accepting applications in 2024, so it isn't included.
Frequently asked questions
Can I use the FHSA and the Home Buyers' Plan together?
Yes. The CRA allows a qualifying FHSA withdrawal and a Home Buyers' Plan withdrawal for the same home.
Sources
- Canada Revenue Agency
- Ontario Ministry of Finance
- City of Toronto
- Government of British Columbia
- Government of Manitoba
- Government of New Brunswick
- Government of Prince Edward Island
- Government of Newfoundland and Labrador
- Government of Alberta
- Information Services Corporation (Saskatchewan Land Registry)
Rules are summarized in our own words from official publications. Check the source and talk to your lender or a licensed professional before making a decision.
Informational only, not financial advice. Data as of the release snapshot generated 2026-11-12.