Closed
BC First-Time New Home Buyers' Bonus
Tax relief for first-time home buyers
Last Update: April 27, 2026
Funding available
Varies by project
Timeline
- Closing date : March 31, 2015
Location
British Columbia, Canada
Overview
This program provides a tax credit for first-time new home buyers in British Columbia. It supports eligible home purchases and related housing transactions, with a maximum credit based on the new housing rebate and capped at $10,000.
/100
Opportunity Score
Moderate potential, but conditions must align.
At a glance
Funding available
Financing goals
- Implement environmental initiatives
- Reduce environmental footprint
- Renovate or adapt facilities
Eligible Funding
- Varies by project
Timeline
- Closing date : March 31, 2015
Eligible candidates
Eligible Industries
- Real estate and rental and leasing
Location
- British Columbia
Legal structures
- All legal structures
Annual revenue
- All revenue ranges
Organisation size
- All organization sizes
Audience
- Canadians
Next Steps
1
Determine your project
2
Validate your eligibility
Activities funded
- Purchase of a new home in British Columbia for use as a primary residence
- Purchase of a residential condominium unit in British Columbia
- Acquisition of a cooperative housing share for a primary residence
- Construction or substantial renovation of a primary residence in British Columbia
- Purchase of a mobile home or floating home for use as a primary residence
Documents Needed
- Application form required by the Commissioner of Income Tax
- Required information for the application
- Additional records requested by the Commissioner of Income Tax
- Notice and records for any subsequent assessment, if applicable
Official resources
Eligibility
Who is eligible?
- Individuals who are first-time new home buyers
- British Columbia residents
- Individuals filing a return of income
Who is not eligible
- Individuals with a spouse or common-law partner, unless the spouse or partner also qualifies
- Individuals buying jointly with non-eligible co-buyers
- Individuals confined to a prison or similar institution for 90 days or more during the transaction period
- Prescribed individuals excluded by regulation
Eligible geographic areas
- British Columbia
How to apply
- Step 1: Prepare the application
- Complete the application in the form required by the Commissioner of Income Tax.
- Gather any additional information or records required.
- Step 2: File the application
- Submit the application with your income tax return for the eligible taxation year.
- Ensure the filing is made by March 31, 2015.
- Step 3: Provide follow-up information
- Submit any further information or records requested by the Commissioner.
- If a subsequent assessment changes a relevant amount, file the required notice within 90 days.
Processing and Agreement
- The Commissioner reviews the application and supporting information.
- The Commissioner determines the credit amount, if any.
- A notice of determination is issued to the applicant.
- The determination may be appealed to the Provincial minister.
Additional information
- The application must be filed on or before March 31, 2015.
- The Commissioner may request additional information or records.
- A notice of subsequent assessment must be filed within 90 days.
- Penalties may apply for false statements or failures to comply.
Frequently Asked Questions about the BC First-Time New Home Buyers' Bonus Program
What is the BC First-Time New Home Buyers' Bonus?
This program provides a tax credit for first-time new home buyers in British Columbia. It supports eligible home purchases and related housing transactions, with a maximum credit based on the new housing rebate and capped at $10,000.
Who is eligible for the BC First-Time New Home Buyers' Bonus program?
To be eligible for the BC First-Time New Home Buyers' Bonus program, you must:
First-time new home buyer
British Columbia resident
Filed income tax return
What expenses are eligible under BC First-Time New Home Buyers' Bonus?
Purchase of a new home in British Columbia for use as a primary residence
Purchase of a residential condominium unit in British Columbia
Acquisition of a cooperative housing share for a primary residence
Construction or substantial renovation of a primary residence in British Columbia
Purchase of a mobile home or floating home for use as a primary residence
Who can I contact for more information about the BC First-Time New Home Buyers' Bonus?
You can contact Government of British Columbia (BC).
Where is the BC First-Time New Home Buyers' Bonus available?
The BC First-Time New Home Buyers' Bonus program is available the province of British Columbia.
Is the BC First-Time New Home Buyers' Bonus a grant, loan, or tax credit?
BC First-Time New Home Buyers' Bonus is a Tax Credits
Who are the financial supporters of the BC First-Time New Home Buyers' Bonus?
BC First-Time New Home Buyers' Bonus is funded by Government of British Columbia (BC)