省钱计划/Cost Saving Programs


Wise real estate decisions are made when you have a clear understanding of your personal financial circumstances. When assessing your situation, it is important to know that there is a broad range of cost-saving programs available to help you.

Note: if you buy a NEW home before July 1, 2010:  

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New home buyers can apply for a rebate of the 5% GST applicable to the purchase price to a maximum of $8,750 for new homes costing up to $350,000.

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There is a proportional GST rebate for new homes costing between $350,000 and $450,000.

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Newly constructed or substantially renovated homes competed by July 1, 2010 have the PST embedded in the cost of construction. Home buyers may qualify for a PST transitional rebate for specific types of non-grandparented residential properties.

For information - GST new home rebates

The Home Buyers’ Plan: Retirement Savings for down payments

Canada Revenue Agency’s Home Buyers Plan lets qualifying home buyers use up to $25,000 of their Registered Retirement Savings Plan to buy a home. Couples can use up to $50,000. The home must be a principal residence, the home buyers must not have owned a home within the past five years and the loan must be repaid with 15 years. Disabled home buyers upgrading to a more accessible home also qualify as do relatives helping disabled home buyers. Home buyers who have already used the plan and have fully repaid their RRSP may be eligible to use the plan a second time.  

 

Canada Revenue Agency
For information visit
Home Buyers' Plan

 
High ratio mortgages on green properties

CMHC offers a 10% refund on your mortgage loan insurance premium and an extended 35-year amortization period when you buy an energy-efficient home or make energy-efficient renovations. Your new home must be either R2000 certified, have an EnerGuide Rating of 80, or be built by a member of a CMHC-eligible energy-efficient building program. For a Renovation, the pre and post renovation EnerGuide Evaluation must show at least a 5 point improvement, and have a minimum point total of 40. 

 

CMHC
For information visit
Green Home

First-Time Home Buyers' Tax Credit

Qualifying home buyers can claim up to $750 under this federal government program.

You will qualify if:
•you or your spouse or common-law partner acquired a qualifying home; and
•you did not live in another home owned by you or your spouse or common-law partner in the year of acquisition or in any of the four preceding years.

 

For information, visit www.cra.gc.ca/hbtc or call
1-800-959-8281

Property Transfer Tax and exemption

Home buyers in BC pay a provincial Property Transfer Tax when they buy a home. The tax is charged at a rate of 1% on the first $200,000 of the purchase price and 2% on the remainder.

First-time home buyers may qualify for a full exemption on a home with a maximum purchase price of $425,000 or a partial exemption on a home priced to $450,000. Buyers can’t have previously owned a home anywhere in the world. 

 

Government of BC
For information visit
Property Transfer Tax

Goods and Services Tax Rebate

Buyers of new homes with a market value of less than $450,000 may qualify for a Goods and Services Tax (GST) rebate. January 1, 2008, the GST dropped to 5% from 6% on new homes. The maximum rebate for qualifying home buyers is equal to the lesser of 36% of the GST paid or $6,300.

 

Canada Revenue Agency
For information visit
GST-New housing rebate

BC Land Tax Deferment 

Families with children:
Home owners with children under age 18 may be eligible to defer their property taxes if they have at least 15% equity in their home. Deferred taxes are charged interest at prime rate and are repayable when the home is sold.

Owners facing financial hardship:
A new temporary program for owners facing hardship to defer their 2009 and 2010 property taxes if they have at least 15% equity in their homes.

 

BC Ministry of Finance
For information visit
Property tax deferment programs

 

BC Home Owner Grant

Reduces property taxes by up to $570 on properties assessed up to $1,050,000 and continues on a sliding scale up $1,164,000. Provides an additional $275 for a maximum of $845 for seniors, veterans and the disabled on homes assessed up to $1,050,000 and is reduced on a sliding scale on homes valued up to $1,219,000.

 

BC Ministry of Small Business and Revenue
For information visit
home owner grant
RRAP Grants - Canada Mortgage and Housing Corporation

Includes the Homeowner Residential Rehabilitation Assistance Program (RRAP) which provides financial assistance to low-income households for repairs; RRAP – Secondary Suite which provides assistance to create affordable self-contained rental units for low-incomes seniors and disabled adults; and RRAP Home Adaptations for Senior’s Independence which provides financial assistance for minor home adaptations to extend the time low-income seniors can live in their own home.

 

For information visit
CMHC programs
HST New Housing Rebate

Buyers of new or substantially renovated homes priced up to $525,000 are eligible for a rebate of 71.43% of the provincial portion of the HST, up to $26,250. Buyers of homes priced above $525,000 are eligible for a flat rebate of $26,250.

 

For information visit
New Housing Rebate  
HST New Rental Housing Rebate

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.

 

For information visit
New Rental Housing Rebate  
HST Residential Energy Credit

Home owners and residential landlords buying heating fuel will receive a provincial goverment point-of-sale rebate on utility bills equal to the provincial component of the HST.

Home owners and landlords who buy energy not separately metered, for example, in a cooperative, and who don't receive the credit on their utility bill, can apply to the provincial government for the credit.

 

For information visit
Residential Energy Credit 
PST Exemptions for energy conservation

Exempts energy efficient materials including double-glazed windows, insulation, draft-reducing materials, furnaces, boilers, heat pumps and related from the PST.

This exemption will end when when the HST comes into effect, July 1, 2010.

 

BC Ministry of Energy, Mines and Petroleum Resources.
For information visit
energy tax exemption
Federal ecoENERGY retrofit

ecoENERGY Retrofit for Homes provides home and property owners with grants of up to $5,000 to offset the cost of making energy-efficiency improvements that range from increasing insulation to upgrading a furnace.

Please note that the guidelines to this program changed effective March 31, 2010. Please click on the link to the right for more information.

 

Natural Resources Canada
For information visit ecoENERGY Retrofit – homes
LiveSmart BC - Efficiency Incentive Program

Home owners improving the energy efficiency of their homes may qualify for this provincial program. The initial (pre-retrofit) energy assessment must be done on or after April 1, 2010 and complete a follow-up (post-retrofit) energy assessment by March 31, 2011.

 

Ministry of the Environment
LiveSmart BC

Terasen Gas ENERGY STAR® Qualified Heating System Upgrade

Provides coupons and rebates of up to $300 towards the purchase of a new ENERGY STAR® heating systems as well as gas bill credits.

 

For information visit
Terasen Gas
BC Hydro

Rebates BC Hydro customers $30 to turn in their old, inefficient, second refrigerator. Fridges must measure between 10 and 24 cubic feet and still work. Will pick up a maximum of two refrigerators.

Rebate for old fridges. For information visit
BC Hydro - fridge

Source from Real Estate Board of Greater Vancouver.