You may have heard about B.C.’s new 2012 $10,000 B.C. Home Buyers’ Bonus in the Vancouver Real Estate News.

Lot’s of mortgage questions coming in as to how this affects the purchase of a home in Vancouver, BC.

Vancouver mortgage broker, Mark Fidgett and real estate lawyer, Tony Spagnuolo, discuss the new $10,000 first-time new-home buyers’ bonus.

ALERT: To clarify, since this recording, the BC Government now says the bonus is NOT claimed when filing an income tax return and the amount of the bonus is not reduced based on an individual’s tax bracket. Applicants can receive a cheque of up to $10, 000 if they qualify.

The bonus will be issued by the BC Ministry of Finance, and the amount of the bonus is not taxable. The form to apply for the refund is not yet available.  It will be posted to the Ministry of Finance website when it becomes available.  The refund will be issued after the application has been processed and approved.

Below is the info released in the budget

Click here to read the new info

For the right advice at the right time

Go ahead and call me to discuss

Mark Fidgett, Your Vancouver Mortgage Broker For Life


P.S. Who’s the next person you know who wants to save thousands off their mortgage? Be sure to give me a call so we can help them!