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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.
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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
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
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
Here are answers to the most common questions about the BC First-Time New Home Buyers' Bonus. This section explains what the program is, how much funding is available, eligibility requirements, application deadlines, and other important details to help you determine if this grant is right for your business.
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 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)