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First-Time Home Buyer Tax Credit in Canada, explained simply 🏡⬇️ If you bought your first home, you may get a break on your income taxes. Here’s how it works: • The government lets first-time buyers claim a $10,000 tax credit • This is a non-refundable income tax credit • It can reduce the taxes you owe by up to $1,500 Important to know: • This is not cash back at purchase • You claim it when you file your tax return • It helps offset costs like legal fees, inspections, and moving expenses Have
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