B.C. First-Time New Home Buyers' Bonus
The deadline to apply for the B.C. First-Time New Home Buyers' Bonus was March 31, 2015. You can no longer apply.
- You purchased or built an eligible new home in B.C.
- You and your spouse or common-law law partner were first-time home buyers
- In the case of multiple buyers of a home, each buyer was a
first-time home buyer
- You filed a 2011 B.C. resident personal income tax return or, if you moved to B.C. after December 31, 2011, you filed a 2012 B.C. resident personal tax return (you are not eligible for the bonus if you moved to B.C. after December 31, 2012)
- You were eligible for the B.C. HST New Housing Rebate
- You intended to live in the home as your primary residence
- No one else claimed a bonus for the home
Eligible New Homes
Eligible new homes included:
- new homes (i.e. newly constructed and substantially renovated homes) that are purchased from a builder
- owner-built homes
A substantially renovated home is one where all, or substantially all, of the interior of the building has been removed or replaced. Generally, 90% or more of the interior had to be renovated to qualify.
Eligible homes included detached houses, semi-detached houses, duplexes and townhouses, residential condominium units, mobile homes and floating homes, and residential units in a cooperative housing corporation.
Newly constructed and substantially renovated homes
The bonus was available for newly constructed and substantially renovated homes in B.C. purchased from a builder, where:
- a written agreement of purchase and sale was entered into on or after February 21, 2012 and before April 1, 2013,
- HST was payable on the purchase, and
- ownership or possession of the home was transferred before
April 1, 2013.
The bonus was available for new owner-built homes, where:
- a written agreement of purchase and sale for the land was entered into on or after February 21, 2012, and
- construction of the home was substantially complete, or the home was occupied, before April 1, 2013.
The following legislation applies to the B.C. First-Time New Home Buyers’ Bonus:
- Income Tax Act (B.C.) Part 12