May 2, 2009
First-time home buyers tax break & RRSP withdrawl
Couple changes for first-time home buyers. They can withdraw more from their RRSPs and also receive a tax break against closing expenses
There are new rules for 2009 making it easier for people to purchase a home when buying for the first time. Previously buyers could withdraw 20 thousand from their RRSPs, now the allowable amount has increased to 25 thousand. Also, buyers will receive a tax break on some of their costs associated with buying. A couple examples would be a home inspection and lawyer fees. Due to the slowing market in 2008 the government has made it easier for people to own their own home. Since the beginning of 2009 Jacob & Jacky have been extremely busy helping clients get into the market for the first time.
