Tax Tip #4: First Time Home Buyers

Happy Valentine’s Week!! Whether you’re married, single, or a delicate mix
of both, I hope you all enjoy your celebrations or un-celebrations in your own
special way. Now onto business….the business of getting older!

If you’re like me – slowly creeping towards middle age– you may have recently
purchased a house or are considering buying a house in the near future. Or, if
you’re past your prime (again, like me), you may know someone younger and
more spry than yourself who may be deserving of a quality tax tip.

That being said, if you or someone you know (and care enough about to give them advice that you stumbled upon via the internet) bought a home for the first time in 2012 (that includes houses, condos, townhouses, castles, Moon bases, etc.) you’re eligible for up to $750 cash back from the federal government! It’s like the federal government is paying you to buy a house! A house that costs $750 or less that is… Save the tax credit wisely and you’ll finally be able to afford that Barbie Dream Home you always wanted!

Disclaimer – Barbie Dream Homes are not tax deductible. And neither is your tiny pink Corvette.

In summary, Happy Valentine’s Day, Honey! I hope you’re reading this! And
to all the other readers of Tax Tip Tuesdays (hi again Mommy): tax tips are not
recommended Valentine’s Day gifts.

Yoda One For Me,

The Funny Accountant.

For more information on this and other tax issues, please contact The Funny
Accountant/President of MK & Associates at mitch@mkassociates.ca

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