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BC First-Time New Home Buyers' Bonus
Tax credit for first-time home buyers
Latest source updateLast Update: May 3, 2026Latest change: The grant content now focuses on Part 12 of the BC First-Time New Home Buyers' Bonus, with detailed rules for eligibility, eligible transactions, tax-credit amounts, and filing deadlines.View change
Latest source update
Last Update: May 3, 2026
Latest change: The grant content now focuses on Part 12 of the BC First-Time New Home Buyers' Bonus, with detailed rules for eligibility, eligible transactions, tax-credit amounts, and filing deadlines.
BC First-Time New Home Buyers' Bonus updated
The grant content now presents the BC First-Time New Home Buyers' Bonus in detail, including who can qualify, what counts as an eligible transaction, and the conditions tied to first-time buyers, residency, and primary residence use. It also adds the tax-credit calculation, application requirements, supporting records, and filing deadline information, making the program rules much more specific than a general statute listing.
Funding available
Varies by project
Deadline
March 31, 2015
Location
British Columbia, Canada
Who can apply
Individuals who are first-time new home buyers, residents of British Columbia in the eligible taxation year, and have filed a return of income for that year
See full eligibility
Overview
BC First-Time New Home Buyers' Bonus provides a tax credit for first-time new home buyers in British Columbia who have filed a return of income. Eligible transactions include purchases of residential complexes, cooperative housing shares, land for construction or substantial renovation, and mobile or floating homes used as a primary residence.
/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
Funds Providers
Eligible candidates
Eligible Industries
- All industries
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 building and land in British Columbia that is a single unit residential complex or a residential condominium unit, acquired for use as the primary place of residence
- Purchase of a building or part of a building in British Columbia that is a single unit residential complex or a residential condominium unit, acquired for use as the primary place of residence
- Acquisition of a share of the capital stock of a cooperative housing corporation for use of a residential unit in British Columbia as the primary place of residence
- Acquisition of land in British Columbia on which the construction or substantial renovation of a residential complex is undertaken for use as the primary place of residence
- Purchase of a mobile home or floating home in British Columbia for use as the primary place of residence
Documents Needed
- The application in the form required by the commissioner
- The information required by the commissioner
- Any other information or records required by the commissioner, filed with the application or within a later period approved by the commissioner
Official resources
Eligibility
Who is eligible?
- Individuals who are first-time new home buyers, residents of British Columbia in the eligible taxation year, and have filed a return of income for that year
- Prescribed individuals who enter into an eligible transaction
Who is not eligible
- Individuals with a spouse or common-law partner at the time the eligible transaction is entered into, unless the spouse or partner is also an eligible individual or prescribed individual
- Individuals who enter into an eligible transaction with one or more other individuals, unless all of them are eligible individuals or prescribed individuals
- Individuals confined to a prison or similar institution for a period of at least 90 days during which they enter into the agreement of purchase and sale for an eligible transaction
- Prescribed individuals excluded by regulation
How to apply
- File an application with the commissioner for a tax credit under this Part for an eligible taxation year
- Use the form and include the information required by the commissioner
- Include any other information or records required by the commissioner with the application, or within a later period approved by the commissioner
- File the application with respect to an eligible transaction within the prescribed time for filing an application for the related new housing rebate under section 256.21 (2) of the Excise Tax Act (Canada)
- File the application on or before March 31, 2015
Processing and Agreement
- The commissioner examines the application and any other information or records filed under section 154 and determines the amount of any tax credit to which the individual is entitled.
- If a tax credit is determined, the commissioner sends a notice of determination that specifies the amount of the tax credit for the taxation year.
- The commissioner is not bound by the application or other information or records supplied and may determine the amount despite them.
- If a notice of assessment changes an amount relevant to the calculation of the tax credit, the individual must file the required notice within 90 days after the notice was issued, or within a later period approved by the commissioner.
- An appeal to the Provincial minister must be made within 90 days after the notice of determination by serving a notice of appeal by mailing it to the minister; the minister must confirm, reverse or vary the decision and notify the appellant in writing.
Frequently Asked Questions about the BC First-Time New Home Buyers' Bonus Program
What is the BC First-Time New Home Buyers' Bonus?
BC First-Time New Home Buyers' Bonus provides a tax credit for first-time new home buyers in British Columbia who have filed a return of income. Eligible transactions include purchases of residential complexes, cooperative housing shares, land for construction or substantial renovation, and mobile or floating homes used as a primary residence.
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
Resident of British Columbia in the eligible taxation year
Filed a return of income for the eligible taxation year
What expenses are eligible under BC First-Time New Home Buyers' Bonus?
Purchase of a building and land in British Columbia that is a single unit residential complex or a residential condominium unit, acquired for use as the primary place of residence
Purchase of a building or part of a building in British Columbia that is a single unit residential complex or a residential condominium unit, acquired for use as the primary place of residence
Acquisition of a share of the capital stock of a cooperative housing corporation for use of a residential unit in British Columbia as the primary place of residence
Acquisition of land in British Columbia on which the construction or substantial renovation of a residential complex is undertaken for use as the primary place of residence
Purchase of a mobile home or floating home in British Columbia for use as the primary place of 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)