Forgivable Down payment, Tax Credit, Renovations Assistance and Rebates For Canadian Real Estate
Top Grants and Rebates for Canadian Real Estate aÂ brief summary of some of programs available for Canadian Real Estate. Some of theseÂ forgivable grants, tax credits,renovation assistance and rebates are available across for Canadian Real Estate. “It always pays To be informed Real Estate Investor” says Navtaj Chandhoke, founder of Professional Real Estate Investors Group (PREIG) Canada, REI club. No matter what, Real Estate education and up to dateÂ pays off big time.It is the mistake and ignorance which costs you lot more.
Top Grants Rebates
Home Buyersâ€™ Plan (HBP)
This is another Top Grants & Rebates for Canadian Real Estate.
Qualifying for Canadian home buyers can withdraw up to $25,000 (couples can withdraw up to $50,000) from their RRSPs for a down payment. Canadian Home buyers who have repaid their RRSP may be eligible to use the program a second time. (Go to www.cra.gc.ca, enter â€œHome Buyersâ€™ Planâ€ in the search box or, phone 1.800.959.8287.)
Canadian new home buyers can apply for a rebate of the federal portion of the HST (the 5% GST) if the purchase price is less than $350,000. The rebate is up to 36% of the GST to a maximum rebate of $6,300. There is a proportional GST rebate for new homes costing between $350,000 and $450,000. (Go to www.cra-arc.gc.ca, enter â€œRC4028â€³ in the search box or, call 1.800.959.8287.)
Home Buyers’ Plan
This is another Top Grants & Rebates for Canadian Real Estate. Qualifying home buyers can withdraw up to $25,000 (couples can withdraw up to $50,000) from their RRSPs for a down payment. Home buyers who have repaid their RRSP may be eligible to use the program a second time. Canada Revenue Agency www.cra.gc.ca Enter ‘Home Buyers’ Plan’ in the search box. 1.800.959.8287
CMHC Renovation Programs
This is another Top Grants & Rebates for Canadian Real Estate. CMHC delivers the following renovation programs in Prince Edward Island, Yukon Territory and Ontario. In other jurisdictions, Provinces and Territories may choose to design and deliver renovation programs that are cost-shared with the federal government.
For Multi-Unit Projects:
Â Emergency Repair Program
This is another Top Grants & Rebates for Canadian Real Estate. The Emergency Repair Program is meant to help those who have a low income and need to make necessary repairs to their home. To be eligible, an individual only needs to have low income and be a tenant or homeowner in a rural area of Canada. Repairs may be made on a variety of areas of the home, including the electrical system, the foundation, chimneys, windows and doors, among other areas. The grant amount, like other financial assistance, varies depending on where one lives in Canada. Assistance totals $6,000, $9,000 and $11,000, respectively, for those that live in the southern, northern and far northern parts of the country. Repairs that are started before the application for funding has been approved in writing are not eligible for the grant. Canada Housing and Mortgage Corp. 700 Montreal Road Ottawa, Ontario K1A 0P7 800-668-2642Â cmhc-schl.gc.ca
Tax Credit and Savings through Canada’s Economic Action Plan
â€œCanadians can take full benefit from the following tax credits provided they are aware of them. As Canadians prepare to file their 2012 taxes, they will be able to claim the Family Caregiver Tax Credit for the first time. Claiming these credits by filing online and using direct deposit will, in most cases, help Canadians to receive a refund in as little as eight days, compared to four to six weeks for a paper returnâ€ says Navtaj Chandhoke, founder of Professional Real Estate Investors Group (PREIG) Canada, the largest Real Estate Investors network group in Canada.
There are over 90 grants available for Canadian Real Estate Investors, if want to learn more about them
Are you looking for Master Coach/Mentor/Speaker & Canadian hard money lender ?Â Â Â Â
Align yourself with the most powerful, knowledgeable, influential, successful over 17,500+ Canadian Real Estate Investors for monthly mentoring,network and support at Professional Real Estate Investors Group (PREIG) Canada. P.S. Take Action now to attend the eye-opening seminar and walk away with confidence, knowledge, and specific “action ideas” that can help you achieve your dreams and leave the rat race behind. Â We have been training Canadian Real Estate Investors since 1993.