1️⃣ First-Time Home Buyers’ Tax Credit This credit gives first-time buyers a $10,000 federal credit, which equals $1,500 off your taxes. It’s meant to help with closing costs like legal fees and inspections. You claim it when filing your taxes—no upfront application needed. If neither you nor your spouse owned a home in the past four years, you likely qualify. 2️⃣ Land Transfer Tax Rebate First-time buyers can get part of their land transfer tax refunded: $4,000 in ON, $8,000 in BC, and $2,000 i