B.C. First-Time New Home Buyers' Bonus

The B.C. First-Time New Home Buyers’ Bonus was a one-time payment worth up to $10,000.
 
B.C. residents who were first-time home buyers and who purchased an eligible new home on or after February 21, 2012 and before April 1, 2013 may have been eligible for this bonus. 

The deadline to apply for the B.C. First-Time New Home Buyers' Bonus was March 31, 2015. You can no longer apply.

Qualifications

You may have qualified for the bonus if you met all of the following criteria:
  • 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. GST/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.

Owner-built homes

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.

Legislation

The following legislation applies to the B.C. First-Time New Home Buyers’ Bonus: