Home Owner Rebates & Grants
Canada Revenue Agency - Home Buyer's Plan
2) GST Rebate on New Housing
3) British Columbia HST Rebate on New Housing
4B) BC New Housing Rebate (HST) for Secondary Vacation or Recreational Homes
5) BC New Rental Housing Rebate
6) BC First-Time New Home Buyers' Bonus
7) 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.
8) First Time Home Buyers' Tax Credit (HBTC)
9) BC 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 elsewhere in the province; and
- an additional grant of $275 to seniors aged 65+, those who are permanently disabled and war veterans of certain wars.
Home Owner Grant
10) BC Property Tax Deferment Programs:
Property Tax Deferment 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 for Families with Children: Qualifying low income home owners who financially support children under 18 may be eligible to defer property taxes.
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.
12) Home Adaptations for Independence (HAFI)
A new 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 then accessible and safer.
Home Adaptations for Independance
604.646.7055 or toll-free 1.800.407.7757 extension 7055
13) 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.
14) 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.
Energy Saver Mortgage
15) 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 renovation on a home energy audit on a fixed rate installment loan over $5,000. For information visit your financial institution.
www.vancity.com/Loans/BrightIdeas and www.rbcroyalbank.com/products/personalloans/energy-saver-loan.html
16) LiveSmart 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.
Efficiency Incentive 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.
Phone: 604-602-4545 Email: email@example.com