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Top 25 grants and rebates for homeownersDocument Transcript
Top 25 grants and rebates for property buyers and owners 1 10 Home eligible for a rebate of 71.43% of Valley regional districts; CMHC Mortgage Buyers’ the provincial portion of the HST, • an additional grant of $770 Loan Insurance Plan up to $26,250 per unit. to rural homeowners else- Premium Refund Qualifying where in the province; and Provides home buyers with www.hstinbc.ca/making_your_ home buyers can • an additional grant of $275 to CMHC mortgage insurance, a choice/faqs/new_housing_rebate withdraw up to seniors aged 65+, those who 10% premium refund and possible 1.800.959.8287 $25,000 (couples are permanently disabled and extended amortization without sur- can withdraw up war veterans of certain wars. charge when buyers purchase an 5 BC Property Transfer to $50,000) from energy efficient mortgage or make Tax (PTT) First Time BC Ministry of Small Business their RRSPs for energy saving renovations. Home Buyers’ Program and Revenue www.rev.gov.bc.ca/ a down payment. Qualifying first-time buyers may hog or contact your municipal tax www.cmhc.ca/en/co/moloin/ Home buyers who have repaid be exempt from paying the PTT of office. moloin_008.cfm#reno their RRSP may be eligible to use 1% on the first $200,000 and 2% 604.731.5733 the program a second time. 8 on the remainder of the purchase BC Property Tax 11 Canada Revenue Agency www. price of a home priced up to Deferment Programs Energy Saving cra.gc.ca Enter ‘Home Buyers’ $425,000. There is a proportional Mortgages Plan’ in the search box. exemption for homes priced up to Property Tax Deferment Pro- Financial 1.800.959.8287 $450,000. gram for Seniors. Qualifying institutions offer a range of home owners aged 55+ may be mortgages to home buyers and 2 BC Ministry of Small Business eligible to defer property taxes. GST Rebate on New owners who make their homes and Revenue www.sbr.gov. Homes more energy efficient. For bc.ca/business/Property_Taxes/ Financial Hardship Property New home buyers can example, home owners who have Property_Transfer_Tax/ptt.htm Tax Deferment Program. Quali- apply for a rebate of the federal a home energy audit within 90 250.387.0604 fying low-income home owners portion of the HST (the 5% GST) days of receiving an RBC Energy may be eligible to defer property if the purchase price is less than Saver™ Mortgage, may qualify 6 First-Time Home taxes. $350,000. The rebate is up to 36% for a rebate of $300 to their RBC Buyers’ Tax Credit of the GST to a maximum rebate Property Tax Deferment account. (HBTC) of $6,300. There is a proportional Program for Families with This federal non-refundable www.rbcroyalbank.com/products/ GST rebate for new homes costing Children. Qualifying low income income tax credit is for qualify- mortgages/energy-saver-mortgage. between $350,000 and $450,000. home owners who financially sup- ing buyers of detached, attached, html port children under age 18 may be Canada Revenue Agency www. apartment condominiums, mobile 1.800.769.2511 eligible to defer property taxes. cra.gc.ca Enter ‘RC4028’ in the homes or shares in a cooperative 12 search box. housing corporation. The calcula- BC Ministry of Small Business Low Interest 1.800.959.8287 tion: multiply the lowest personal and Revenue www.sbr.gov.bc.ca/ Renovation Loans income tax rate for the year (15% individuals/Property_Taxes/Prop- Financial institu- 3 BC New Housing Rebate in 2011) x $5,000. For the 2011 erty_Tax_Deferment/ptd.htm tions offer ‘green’ loans for home (HST) tax year, the maximum credit is owners making energy efficient 9 Buyers of new or $750. Canada Mortgage upgrades. Vancity’s Bright Ideas substantially renovated homes and Housing personal loan offers home owners Canada Revenue Agency www. priced up to $525,000 are eligible (CMHC) Residential up to $20,000 at prime + 1% for cra-arc.gc.ca/tx/ndvdls/tpcs/ncm- for a rebate of 71.43% of the Rehabilitation Assistance up to 10 years for ‘green’ renova- tx/rtrn/cmpltng/ddctns/lns360- provincial portion (7%) of the Program (RRAP) Grants. This tions. RBC’s Energy Saver loan 390/369/menu-eng.html 12% HST paid to a maximum federal program provides financial offers 1% off the interest rate for 1.800.959.8281 rebate of $26,250. Homes priced aid to qualifying low-income a fixed rate installment loan over at $525,000+ are eligible for a flat home owners to repair substandard $5,000 or a $100 renovation on a 7 BC Home Owner Grant rebate of $26,250. housing. Eligible repairs include home energy audit on a fixed rate Reduces property heating, structural, electrical, installment loan over $5,000. www.hstinbc.ca/making_your_ taxes for home owners plumbing and fire safety. Grants For information visit your finan- choice/faqs/new_housing_rebate with an assessed value of up to are available for seniors, persons cial institution. 1.800.959.8287 $1,285,000. The basic grant gives with disabilities, owners of rental home owners www.vancity.com/Loans/ properties and owners creating 4 BC New Rental Housing • a maximum reduction of $570 BrightIdeas and www. secondary and garden suites. Rebate (HST) in property taxes on principal rbcroyalbank.com/products/ Landlords buying new or residences in the Capital, www.cmhc-schl.gc.ca/en/co/ personalloans/energy-saver-loan. substantially renovated homes are Greater Vancouver and Fraser prfinas/prfinas_001.cfm html 1.800.668.2642 | 604.873.7408 Continued on page two1 Real Estate Board of Greater Vancouver • Updated February 6, 2012
Top 25 grants and rebates for property buyers and owners continued13 17 21 LiveSmart BC Hydro City of Vancouver and co-operatives for projects BC: Efficiency Windows Rebate Rain Barrel which focus on building renova- Incentive Program Program Subsidy Program tions/retrofits, regulatory changesHome owners improving the Pay no HST when you buy EN- The City of Vancouver provides that advance green building devel-energy efficiency of their homes ERGY STAR high-performance a subsidy of 50% of the cost of a opment, and education to increasemay qualify for cash incentives windows and doors. rain barrel for Vancouver resi- the use of practical green buildingthrough this provincial program dents. With the subsidy, the rain strategies. The deadline for ap- www.bchydro.com/rebates_provided in partnership with For- barrel costs $75. Buy your rain plications was January 23, 2012. savings/windows_offers/current_tisBC, BC Hydro, and FortisBC. barrel at the Transfer Station at If you are still interested in this offers.htmRebates are for energy efficient 377 W. North Kent Ave., Vancou- grant open the link, and consider 604.759.2759 for a free in-homeproducts which replace gas and oil ver, BC. Limit of two per resident. contacting Vancity to express your estimate.furnaces, pumps, water heaters, Bring proof of residency. interest.wood stoves, insulation, win- 18 BC Hydro Mail-in http://vancouver.ca/engsvcs/ www.vancity.com/MyCommunity/dows, doors, skylights and more. Rebates/Savings watersewers/water/conservation/ NotForProfit/Grants/The LiveSmart BC program also Coupons programs/rainbarrel.htm ActingOnClimateChange/covers $150 of the cost of a home To save energy, BC Hydro offers 604.736.2250 GreenBuildingGrantenergy assessment, directly to the rebates including 10% off an Other municipalities have similar 604.877.7000service provider. ENERGY STAR cordless phone. offers. 24www.livesmartbc.ca/rebates Check for new offers and for Local Government 221.866.430.8765 deadlines. City of Vancouver Water Greenest City 2020 Conservation14 www.bchydro.com/rebates_ BC Residential Pilot Home Energy Incentives savings/coupons.html Energy Credit Loan Program Your municipality may provide 1.800.224.9376 Home owners and The City of Vancouver in coop- grants and incentives to residentsresidential landlords buying heat- eration with Vancity, FortisBC, to help save water. For example, 19 FortisBC Rebateing fuel receive a BC government BC Hydro and Natural Resources the City of Coquitlam offers resi- Programpoint-of-sale rebate on utility bills Canada offers access to loans for dents a $100 rebate and the City of A range of rebatesequal to the provincial component energy retrofits including heat- North Vancouver, District of North for home owners include a $50of the HST. ing systems, insulation and air Vancouver, and District of West rebate for upgrading a hot water sealing. The Home Energy Loan Vancouver offer a $50 rebate whenwww.sbr.gov.bc.ca/business/ tank, $300 rebate on an Ener- from Vancity is a 12 month pilot residents install a low-flush toilet.consumer_taxes/residential_ Choice fireplace and a $1,000 program that will end October 21, Visit your municipality’s websiteenergy/residential_energy.htm rebate for switching to natural 2012. For more information attend and enter ‘toilet rebate’ to see if1.877.388.4440 gas (from oil or propane) and a workshop (see third link below). there is a program. installing an ENERGY STAR The goal is 500 homes and loans15 25 BC Hydro heating system. are offered at 4.5% fixed rate over Local Government Appliance Rebates www.fortisbc.com/NaturalGas/ 10 years. The program also helps Water Meter Mail-in rebates for Homes/Offers/Pages/default.aspx with accessing grants from the Programspurchasers of ENERGY STAR 1.888.224.2710 federal ecoENERGY program, the Your municipality may provideclothes washers, refrigerators, provincial LiveSmart BC program a program for voluntary waterdishwashers, or freezers. 20 FortisBC Efficient and FortisBC. metering, so that you pay only forwww.bchydro.com/rebates_ Boiler Program the amount of water that you use. www.vancouver.ca/energyloansavings/appliance_rebates.html For commercial Delta, Richmond and Surrey have and www.vancity.com/Loans/1.800.224.9376 buildings, provides a cash rebate programs and other municipali- homeenergy and http://energyloan. of up to 75% of the purchase price ties may soon follow. Visit your eventbrite.com16 BC Hydro Fridge of an energy efficient boiler, for municipality’s website and enter Email: firstname.lastname@example.org Buy-Back Program new construction or retrofits. ‘water meter’ to find out if there is 604.374.0507. This ongoing pro- a program. www.fortisbc.com/NaturalGas/ 23gram rebates BC Hydro custom- Business/Offers/Pages/default. Vancity Greeners $30 to turn in spare fridges in aspx Building Grantworking condition. 1.888.477.0777 In partnership withwww.bchydro.com/rebates_ the Real Estate Foundation ofsavings/fridge_buy_back.html BC, Vancity provides grants up to604.881.4357 $50,000 each to qualifying chari- ties, not-for-profit organizations Real Estate Board of Greater Vancouver • Updated February 6, 2012 2