Home Buyers Plan - first time buyer?

[ahasnain@comcast.net]

Hi:

My wife and I are Canadians, living in the US. Neither of us have owned a home in Canada before. However, when we moved down to the States 5 years ago we did buy our first house.

Question: If we move back up to Canada will we still qualify as "first time" home buyers under the HBP? Does the "first time" home purchase have to be in Canada or anywhere in the world?

thanks,

Ali

Ali Hasnain

[nelsona]

The Home must be in Canada, among other things.

As long as you don't claim your current US home as a 'principal residence' for Cdn tax purposes, beterr yet, if you sell before returning to Canada, you should be fine.

<i>nelsona non grata... and non pro</i>

You, of course, have read the official CRA information before posting your question, eh?

http://www.cra-arc.gc.ca/E/pub/tg/rc4135/rc4135-e.html