The eligibility criteria for the First-Time Home Buyer Rebate in Ontario are specific and depend on various factors. Generally speaking, to be eligible for the rebate, you must be a first-time home buyer, and the home you are purchasing must be your principal residence.
However, if you have previously owned a home through a corporation, the eligibility for the First-Time Home Buyer Rebate in Ontario may depend on the circumstances of the previous home ownership. If the home ownership was through a corporation that was not owned by you, then you may still be considered a first-time home buyer for the purposes of the rebate.
On the other hand, if you owned the home through a corporation that you controlled, and you or your spouse or common-law partner occupied the home as a principal residence, you may not be eligible for the First-Time Home Buyer Rebate in Ontario.
It is important to note that the rules and eligibility criteria for the First-Time Home Buyer Rebate can be complex and may depend on your specific situation. If you are unsure about your eligibility for the rebate, it is recommended to consult with a qualified real estate lawyer or a tax professional who can provide you with specific guidance based on your individual circumstances. If you have any questions, please contact us at info@falconlawyers.ca or 1-877-892-7778.
