Federal Housing Initiatives

• Increased the Registered Retirement Savings Plan withdrawal to purchase or build a home by increasing the Home Buyers’ Plan withdrawal limit to $25,000 from $20,000.
• First-Time Home Buyers’ Tax Credit for an eligible individual will provide up to $750 in federal tax relief starting in 2009 to assist first-time home buyers with the costs associated with the purchase of a home
• First-time buyers of resale homes, as well as newly constructed homes, will be eligible for a refund from the provincial government of up to $2,000 of the Land Transfer Tax paid.