First Time Home Buyer Incentives in Quebec 2021
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Quebec First-Time Home Buyer Incentive
The Government of Quebec's Home Buyers' Tax Credit gives a maximum tax credit of $750 per qualifying home for first-time home buyers in Quebec. This amount is split between those eligible to claim the tax credit per home.
Frequently Asked Question
Who qualifies as a first-time home buyer in Quebec?
To qualify as a first-time home buyer under the Home Buyers' Tax Credit program, you must not have been an owner or co-owner of a home after January 1, 2015. Your spouse also must not have been an owner or co-owner.
How do I qualify for Quebec’s Home Buyers’ Tax Credit?
To qualify, the property must be located in Quebec. You must have been a resident in Quebec during the year you are purchasing, and the home must become your principal residence within one year. To claim the credit, you will fill out form TP-752.HA-V on your income tax return.
Montreal Home Ownership Program
The City of Montreal's Home Ownership Program helps first-time home buyers to purchase a home in Montreal. The amount of financial assistance provided varies depending on your household and the property purchase price.
The financial assistance includes a maximum lump-sum payment of $6,250 and a 100% real estate transfer tax refund ("Welcome" tax).
To be eligible, you must not have owned a home in Quebec in the past five years. You must occupy the home as your principal residence for at least three years afterwards. If you do not, you may be required to repay the financial assistance. You do not have to repay if you sell your home to purchase another home in Montreal within one month of sale.
Montreal Financial Assistance for New Construction
| First-Time Buyers | Maximum Purchase Price | Financial Assistance |
|---|---|---|
| Single without Children | $200,000 | $2,250 |
| Household without Children | $250,000 | $2,250 |
| Household with Children under 18 | $280,000 | $5,000 |
| Household with Children under 18 | $360,000 (For a Family Housing Unit) | $5,000 if less than 1033 sq. feet + 100% real estate transfer tax refund $6,250 if more than 1033 sq. feet + 100% real estate transfer tax refund |
| Non-First Time Buyers | Maximum Purchase Price | Financial Assistance |
| Household with Children under 18 | $360,000 (For a Family Housing Unit) | 100% real estate transfer tax refund |
| First-Time Buyers | Maximum Purchase Price | Financial Assistance |
|---|---|---|
| Household with Children under 18 | $450,000 (Single Family House) | 100% real estate transfer tax refund |
| Household with Children under 18 | $475,000 (Building with 2 Units) | 100% real estate transfer tax refund |
| Household with Children under 18 | $490,000 (Building with 3 Units) | 100% real estate transfer tax refund |
Quebec City Family Access Program
The City of Quebec's Accès Famille program provides an interest-free loan of 5.5% of the value of a home for home buyers to use as a downpayment. Only homes with a price less than $300,000 and at least two bedrooms in the city of Quebec are eligible.