Home Buyers' Plan (HBP): Withdraw up to $60,000 (pe

• Home Buyers' Plan (HBP): Withdraw up to $60,000 (per person) from your RRSP to buy or build a qualifying home. You must repay it over 15 years, starting two years after your first withdrawal.

• First Home Savings Account (FHSA): Contribute up to $8,000 per year (up to a lifetime limit of $40,000) to this tax-free savings account. Contributions may be tax-deductible.

• First-Time Home Buyer Incentive: A shared-equity loan from the government that can reduce your mortgage payments. The government contributes 5% to 10% of the home's purchase price. You repay the amount when you sell the home or after 25 years.

• Federal First-Time Home Buyer Amount: A non-refundable tax credit of up to $1,500 that can be claimed on your income tax return.

• GST/HST New Housing Rebate: A rebate for the federal portion of the HST on a new or substantially renovated home.

• Proposed Ontario HST Rebate: A proposed rebate of the 8% provincial portion of the HST on new homes valued up to $1 million. This would save first-time buyers up to $80,000 if enacted. 

Ontario-specific rebates and incentives

• Land Transfer Tax (LTT) Refund: Ontario offers a refund of all or part of the LTT for eligible first-time home buyers.

• Toronto Land Transfer Tax Rebate: An additional rebate of up to $4,475 on the Toronto Land Transfer Tax for eligible first-time buyers who use the property as their principal residence.

• Provincial LTT Rebate: In addition to the Toronto rebate, you can also apply for the provincial LTT first-time home buyer rebate. Together, these can save you up to $8,475.