New Federal Budget Housing Announcements

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· A new first time home buyers credit for closing costs that will provide up to $750 in tax relief

· Change in home buyers RSP plan, withdrawal limit increased to $25,000 from the current $20,000

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· Temporary home renovations tax credit, up to $1,350 for eligible home renovations and alterations

Federal Budget Announcements
www.budget.gc.ca/2009

Home Renovation Tax Credit
www.cra-arc.gc.ca and www.fin.gc.ca