If you are interested in learning more about Comox Valley Real Estate please visit www.masonwalker.ca or call me at the Comox Remax or Courtenay Remax at 250-702-7061 any time.
Comox Valley Real Estate update: First time home buyers
The First Time Home Buyers’ (FTHB) Program provides a property transfer tax exemption at the time title to property is transferred from one owner to an eligible first time home buyer. If you are purchasing your first home, you may qualify for this exemption if certain requirements are met. These requirements are outlined below. First Time Home Buyers’ Program Page 2 of 5
Who Qualifies for the Exemption? You qualify for the exemption if:
you are a Canadian citizen, or a permanent resident as defined by the Immigration and Refugee Protection Act (Canada),
you have lived in British Columbia for 12 consecutive months immediately before the date you register the property, or you have filed two income tax returns as a British Columbia resident during the 6 years before the date you register the property,
you have never owned an interest in a principal residence anywhere in the world at any time (a principal residence is defined as the usual place where an individual lives), and
you have never received a first time home buyers’ exemption or refund.
Read the full article here: http://www.sbr.gov.bc.ca/documents_library/bulletins/PTT_004.pdf