Local Resources

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 program a second time.

Canada Revenue Agency: www.cra.gc.ca Enter 'Home Buyers' Plan' in the search box.

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 $350,000 or less. The rebate is equal 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. At $450,000 and above the rebate is nil.

Canada Revenue Agency : www.cra.gc.ca Enter 'RC4028' in the search box.

BC Property Transfer Tax (PTT) First-Time Home Buyers' Program
Qualifying first-time buyers may be exempt from paying the PTT of 1% on the first $200,000, 2% on the portion greater than $200,000 & up to and including $2,000,000, and 3% on the portion that is greater than $2,000,000. There is a proportional exemption for homes priced between $475,000 & $500,000. At $500,000 and above the rebate is nil.

BC Ministry of Small Business and Revenue 
www.sbr.gov. bc.ca/business/Property_Taxes/ Property_Transfer_Tax/ptt.htm

First-Time Home Buyers' Tax Credit (HBTC)
This federal non-refundable income tax credit is for qualifying buyers of detached, attached, apartment condominiums, mobile homes or shares in a cooperative housing corporation. 

Canada Revenue Agency : www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/ddctns/ lns360-390/369/menu-eng.html

BC Home Owner Grant
BC Ministry of Small Business and Revenue www.rev.gov.bc.ca/hog or contact your municipal tax office.

6 BC Property Tax Deferment Programs:
- Property Tax Deferment Program for Seniors. Qualifying home owners aged 55+ may be eligible to defer property
- 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/individuals/Property_Taxes/ Property_Tax_Deferment/ptd.htm

7 Home Adaptations for Independence (HAFI)
A program jointly sponsored by the provincial and federal governments provides up to $20,000 to help eligible low-income seniors and disabled home owners and landlords to finance modifications to their homes to make them accessible and safer.

BC Housing www.bchousing.org/Options/Home_Renovations
604.646.7055 or toll-free 1.800.407.7757 extension 7055

8 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 saving renovations.

9 Energy Saving Mortgages
Financial institutions offer a range of mortgages to home buyers and owners who make their homes more energy efficient. For example, home owners who have a home energy audit within 90 days of receiving an RBC Energy Saver™ Mortgage, may qualify for a rebate of $300 to their RBC account.
www.rbcroyalbank.com/products/ mortgages/energy-saver-mortgage. html

10 Low Interest Renovation Loans
Financial institutions offer 'green' loans for home owners making energy efficient upgrades. Vancity's Bright Ideas personal loan offers home owners up to $20,000 at prime + 1% for up to 10 years for 'green' renovations. RBC's Energy Saver loan offers 1% off the interest rate for a fixed rate installment loan over $5,000 or a $100 rebate on a home energy audit on a fixed rate installment loan over $5,000.

For information visit your financial institution.
www.vancity.com/Loans/TypesOfLoans/BrightIdeas and www.rbcroyalbank.com/products/personalloans/energy-saver-loan. html

11 BC Hydro Appliance Rebates
Mail-in rebates for purchasers of ENERGY STAR clothes washers, refrigerators,
dishwashers or freezers.
www.bchydro.com/rebates_ savings/appliance_rebates.html

12 BC Hydro Power Smart Partner Program for Business
The Power Smart Partner program partners with BC's largest commercial, government, and institutional customers (who spend $200,000 or more/year on Hydro). Customers gain access to a wide range of energy management programs, tools, and incentives.

13 FortisBC Rebate Program
Rebates for home owners include:
• a $300 rebate for buying an EnerChoice® fireplace
• up to $1,000 off an ENERGY STAR® water heater
• a $1,700 rebate for switching to natural gas (from oil or propane) and installing an ENERGY STAR® heating system
FortisBC Rebate

14 Local Government Water Conservation Incentives
Your municipality may provide grants and incentives to residents to help save water. For example, the City of Coquitlam offers residents a $100-200 rebate on select Energy Star® clothes washers. Visit your municipality's website to see if there is a program.
Water Conservation Incentives