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Quebec form TP-752.HA-V home buyer's tax credit?


meheo
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Hi @meheo

Starting in the 2018 taxation year, a non-refundable tax credit of $ 750 will be granted to an individual for the purchase of a first home.

The qualifying housing rules are identical to those of the federal government.

We suggest you consult the following links:

For the CRA;

https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-369-home-buyers-amount.html

For Quebec;

https://www.revenuquebec.ca/en/press-room/tax-news/details/154400/2018-06-01/

https://www.revenuquebec.ca/en/citizens/tax-credits/home-buyers-tax-credit/

To apply for the First Home Buyers' Tax Credit, please follow the steps below:

1. In the "Left-side menu on the Interview tab", select the heading "Other deductions and credits".

2. In the page on the right, scroll to the group "Other credits" and click on the plus sign "+" icon located to the right of the line "Home buyers' amount for the purchase of a qualifying home (federal, Quebec)".

3. On the new page generated, for the line "Are you eligible to claim the home buyers' amount and/or the Quebec first-time home buyers' tax credit", answer "Yes".

4. Two choices will be proposed to you, the first for the Federal level at the line "Select how you want to claim the federal home buyers' amount on line 369 of Schedule 1". You must choose one of the four choices offered. If you choose "Claim specified amount", you must enter the amount for your spouse and your amount.

5. The second-choice concerns Quebec, for the line "Select if you are eligible to claim the Quebec first-time home buyers' tax credit on line 396 of the Quebec return". You must answer with "Yes" or "No".

6. Then, you must answer the following questions.

7. In the last section of this page, you must choose who will claim the tax credit for Quebec. Two choices are available.

8. Please note that for the federal government, the total amount of the $ 5,000 credit is shared, while in Quebec it is the $ 750 credit that is shared. If you choose "Claim specified amount", you must enter the 15% tax credit of $ 5,000.

This credit may be claimed in whole or in part by your spouse. The federal amount will be entered in line 369 of Schedule 1 of the federal returns, whereas for Quebec the tax credit will be entered in line 396 of the return.

The TP-752.HA form will be generated by the program.

Please note that if the new home is co-owned by someone other than your spouse, you must enter the information in the other person's file.

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