Calculate your federal and Ontario first-time home buyer tax credits for 2026
Calculate Your Home Buyer Credit
2026 Federal HBTC: Up to $1,500 tax credit ($10,000 × 15%)
Ontario LTHBTC: Up to $4,000 for homes up to $368,333 (2026)
Your First-Time Home Buyer Credits
Federal Home Buyers' Tax Credit (HBTC):
$0
Ontario Land Transfer Tax Rebate (LTHBTC):
$0
Total Tax Savings:
$0
Frequently Asked Questions
Who qualifies as a first-time home buyer in Ontario?
In Ontario, a first-time home buyer is someone who has never owned a home anywhere in the world, or who has not owned a home in the past four years. For the Land Transfer Tax Rebate, you must also be at least 18 years old and a Canadian citizen or permanent resident. Our Mississauga CPA team helps GTA home buyers verify eligibility and maximize credits.
What is the maximum Ontario Land Transfer Tax Rebate for 2026?
The Ontario Land Transfer Tax Rebate for first-time home buyers is up to $4,000 in 2026, available for homes valued up to $368,333. This rebate can significantly reduce closing costs for Toronto and GTA buyers. Insight Accounting CPA helps clients across Ontario claim all eligible real estate tax credits.
Can couples split the First-Time Home Buyers' Tax Credit?
Yes, married or common-law couples can split the federal $1,500 HBTC, but only one person can claim it per home purchase. The Ontario Land Transfer Tax Rebate cannot be split—it applies to the property. Our Mississauga tax advisors help couples optimize credit allocation to minimize total tax liability across Canada.
Do I need to live in the home to claim these credits?
Yes. Both the federal HBTC and Ontario Land Transfer Tax Rebate require that you intend to occupy the home as your principal residence within one year of purchase. Investment properties do not qualify. For GTA and Toronto buyers navigating principal residence rules, consult with a qualified Ontario CPA.
How do I claim the First-Time Home Buyer Credit on my tax return?
The federal HBTC is claimed on line 31270 of your T1 income tax return for the year you purchased the home. The Ontario Land Transfer Tax Rebate is applied at the time of closing through your lawyer. Insight Accounting CPA Professional Corporation in Mississauga provides full tax filing support for first-time home buyers across Ontario and Canada.