Alex LamRoyal Pacific Realty Corp | (778) 898-2539 |
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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. 1.800.959.8287
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
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 provincial portion (7%) of the 12% HST paid to a maximum rebate of $26,250. Homes pricedat $525,000+ are eligible for a flat
rebate of $26,250. www.hstinbc.ca/making_your_choice/faqs/new_housing_rebate1.800.959.8287BC New Rental Housing Rebate (HST)
Landlords buying new or substantially renovated homes are eligible for a rebate of 71.43% of the provincial portion of the HST, up to $26,250 per unit.www.hstinbc.ca/making_your_choice/faqs/new_housing_rebate
1.800.959.8287
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 and 2% on the remainder of the purchase price of a home priced up to$425,000. There is a proportional
exemption for homes priced up to $450,000. BC Ministry of Small Business and Revenuewww.sbr.gov.bc.ca/business/Property_Taxes/Property_Transfer_Tax/ptt.htm
250.387.0604
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. The calculation:multiply the lowest personal income tax rate for the year (15% in 2011) x $5,000. For the 2011
tax year, the maximum credit is $750.Canada Revenue Agency
www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncmtx/rtrn/cmpltng/ddctns/lns360-390/369/menu-eng.html1.800.959.8281BC Home Owner Grant Reduces property taxes for home owners with an assessed value of up to $1,285,000. The basic grant gives home owners
• a maximum reduction of $570
in property taxes on principal residences in the Capital, Greater Vancouver and Fraser Valley regional districts;• an additional grant of $770
to rural homeowners else where in the province; and• an additional grant of $275 to seniors aged 65+, those who are permanently disabled and
war veterans of certain wars.BC Ministry of Small Business
and Revenuewww.rev.gov.bc.ca/hog or contact your municipal tax office.
BC Property Tax Deferment Programs Property Tax Deferment Program 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
Canada Mortgage and Housing (CMHC) ResidentialRehabilitation 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 owners creating secondary and garden suites.
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 mortgage or make energy saving renovations.www.cmhc.ca/en/co/moloin/moloin_008.cfm#reno
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.
htmlLow Interest Renovation Loans Financial institutions offer ‘green’ loans for homeowners 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 renovation on a home energy audit on a fixed rate installment loan over $5,000.
For information visit your finan
cial institution. BrightIdeas and www.rbcroyalbank.com/products/personalloans/energy-saver-loan.htmlLiveSmart
BC: Efficiency Incentive Program Home owners improving the energy efficiency of their homes may qualify for cash incentives through this provincial program provided in partnership with FortisBC,BC Hydro, and FortisBC. Rebates are for energy efficient products which replace gas and oil
furnaces, pumps, water heaters, wood stoves, insulation, windows,doors, skylights and more.The LiveSmart BC program also covers $150 of the cost of a home
energy assessment, directly to the service provider.www.livesmartbc.ca/rebates
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. www.sbr.gov.bc.ca/business/
consumer_taxes/residential_energy/residential_energy.htmBC Hydro Appliance Rebates Mail-in rebates for purchasers of ENERGY STAR clothes washers, refrigerators,
dishwashers, or freezers.
savings/appliance_rebates.htmlBC Hydro Fridge Buy-Back Program This ongoing program rebates BC Hydro customers $30 to turn in spare fridges in
working condition.
BC Hydro Windows Rebate Program Pay no HST when you buy ENERGY STAR high-performance windows and doors. www.bchydro.com/rebates_savings/windows_offers/current_offers.htm
BC Hydro Mail-in Rebates/SavingsCoupons To save energy, BC Hydro offers rebates including 10% off an ENERGY STAR cordless phone. Check for new offers and for deadlines.
www.bchydro.com/rebates_savings/coupons.html
FortisBC Rebate Program A range of rebates for home owners include a $50 rebate for upgrading a hot water
tank, $300 rebate on an Ener-Choice fireplace and a $1,000 rebate for switching to natural gas (from oil or propane) and installing an ENERGY STAR heating system.
www.fortisbc.com/NaturalGas/
Homes/Offers/Pages/default.aspxFortisBC Efficient
Boiler Program For commercial buildings, provides a cash rebate of up to 75% of the purchase priceof an energy efficient boiler, for new construction or retrofits.
Business/Offers/Pages/default.aspxCity of Vancouver Solar Homes Pilot This rebate of $3,000 (about 50% of the cost) is for a Vancouver home owner
upgrading to a solar hot water
system from a gas system. Offered by the City of Vancouver, SolarBC, FortisBC and Offsetters on a first come, first served basis until the City reaches its target of 30 homes.www.vancouver.ca/solar
City of Vancouver Rain Barrel Subsidy Program The City of Vancouver provides a subsidy of 50% of the cost of a
rain barrel for Vancouver resi
dents. With the subsidy, the rain barrel costs $75. Buy your rain barrel at the Transfer Station at 377 W. North Kent Ave., Vancouver,BC. Limit of two per resident. Bring proof of residency.http://vancouver.ca/engsvcs/watersewers/water/conservation/programs/rainbarrel.htm
604.736.2250
City of Vancouver Greenest City 2020 Pilot Home Energy Loan Program The City of Vancouver in cooperation with Vancity, FortisBC, BC Hydro and Natural Resources Canada offers access to loans for energy retrofits including heating systems, insulation and air sealing. Loans are at 4.5% fixed rate over 10 years. The program also helps with accessing grants from the federal ecoENERGY program, the provincial LiveSmart BC program and FortisBC.
www.vancouver.ca/energyloan Email: energyloan@vancouver.ca.
Vancity Green Building Grant In partnership with the Real Estate Foundation of BC, Vancity provides grants up to
$50,000 each to qualifying chari
ties, not-for-profit organizations and co-operatives for projects which focus on building renovations/retrofits, regulatory changes that advance green building development,and education to increase
the use of practical green building strategies. The deadline for ap
plications was January 23, 2012. If you are still interested in this grant open the link, and consider contacting Vancity to express your interest. NotForProfit/Grants/ActingOnClimateChange/GreenBuildingGrantLocal Government Water Conservation Incentives Your municipality may provide grants and incentives to residents
Courtesy of Greater Vancouver Real Estate Board: Jan 24,2012
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