First Time Home Buyers' Tax Credit The First-Time Home Buyers' Tax Credit provides a 15% credit on a maximum of $5,000 of the property purchase costs (e.g. Legal Fees, Land Transfer Taxes, etc.), meaning a maximum tax relief of $750. - Applicable to first-time buyers purchasing a property closing after January 27, 2009 - Claimable for the taxation year in which the property is being purchased. Land Transfer Tax Calculator

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