Line 31270 – Home buyers' amount
You can claim up to $10,000 for the purchase of a qualifying home in 2024 if you meet both of the following conditions:
- You (or your spouse or common-law partner) acquired a qualifying home
- You did not live in another home inside or outside Canada that you (or your spouse or common-law partner) owned in the year of acquisition or in any of the four preceding years (first-time home buyer) unless you are a person with a disability)
When only one spouse (or common-law partner) meets all of the conditions to apply for the first-time home buyer's tax credit, only the spouse (or common-law partner) who qualifies for the credit can claim the home buyers' amount, regardless of the fact that the other spouse (or common-law partner) cannot.
Qualifying home
A qualifying home must be registered in your or your spouse's or common-law partner's name in accordance with the applicable land registration system and must be located in Canada. It includes existing homes and homes under construction.
The following are considered qualifying homes:
- single-family houses
- semi-detached houses
- townhouses
- mobile homes
- condominium units
- apartments in duplexes, triplexes, fourplexes, or apartment buildings
Note
A share in a co-operative housing corporation that entitles you to own and gives you an equity interest in a housing unit located in Canada also qualifies. However, a share that only gives you the right to tenancy in the housing unit does not qualify.
You must intend that you, or a related person with a disability, will occupy the home as a principal place of residence no later than one year after it is acquired.
Persons with disabilities
You do not have to be a first-time home buyer if either:
- You are eligible for the disability tax credit
- You acquired the home for the benefit of a related person who is eligible for the disability tax credit
Note
The purchase must be made to allow the person with the disability to live in a home that is more accessible or better suited to their needs. For the purposes of the home buyers' amount, a person with a disability is a person who is eligible for the disability tax credit for the year that the home is acquired.
You must intend that you, or a related person with a disability, will occupy the home as a principal place of residence no later than one year after it is acquired.
Completing your tax return
Enter $10,000 on line 31270 of your return if you are not splitting the amount with your spouse or common-law partner.
Splitting the credit
If more than one person is eligible for the first-time home buyers' tax credit for the acquisition of the same home, they can each claim part of the credit. The credit can be split between:
- eligible spouses or common-law partners
- any other eligible persons who jointly acquired the home
The total of the amounts claimed by all eligible persons for the same home cannot be more than the credit amount for the year.
Supporting documents
Filing electronically or a paper return
Keep all your documents in case the CRA asks to see them later.
Forms and publications
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