New home buyer rebate?

[DC328is]

Hi, I have just purchased a new house from Trico. it has not started building yet and I am a first time home buyer.

I heard that you get a 2% government discount of the entire value of the house?

Can someone tell me more information about this?

Thanks in advance!

[kaput]

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[Rat Fink]

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[cdnsir]

For 2009, there's this tiny bit of credit as well.

From CRA site...


First-Time Home Buyers’ Tax Credit

The costs associated with purchasing a home, such as legal fees, disbursements and land transfer taxes, can be a particular burden for first-time home buyers, who must pay these costs on top of saving the money for a down payment.

To assist first-time home buyers with the costs associated with the purchase of a home, Budget 2009 proposes to introduce a First-Time Home Buyers’ Tax Credit—a $5,000 non-refundable income tax credit amount on a qualifying home acquired after January 27, 2009. For an eligible individual, the credit will provide up to $750 in federal tax relief starting in 2009.

It is also proposed that the First-Time Home Buyers’ Tax Credit be made available to existing homeowners in respect of a more accessible or functional home purchased by an individual eligible for the Disability Tax Credit (DTC), or for the benefit of a DTC-eligible person who is related
to the individual purchasing the home.

It is estimated that this measure will cost $30 million in 2008–09, $175 million in 2009–10 and $180 million in 2010–11.