: Several regions offer immediate relief at closing: Ontario : Up to $4,000. Toronto : An additional municipal rebate of up to $4,475. British Columbia : Up to $8,000 for homes under $525,000. 3. Tax Credits for Your First Return 2026 Ontario Budget | Chapter 1B | Costs
: You can contribute up to $8,000 per year (up to a $40,000 lifetime limit ). Contributions are tax-deductible, and qualifying withdrawals for a home purchase are entirely tax-free. government money to buy a home
: This program allows you to withdraw up to $60,000 tax-free from your RRSP for a down payment. Withdrawals made through the end of 2028 now have a five-year grace period before repayments must begin. 2. Direct Cash & Rebates at Closing : Several regions offer immediate relief at closing:
: For agreements signed on or after March 20, 2025, first-time buyers can receive a rebate of up to $50,000 on newly built or substantially renovated homes valued up to $1 million. : This program allows you to withdraw up