Get money back on your welcome tax and possibly a lump sum…all this at the end of April 2010.

If you haven’t owned a property in the last 5 years in Quebec you are eligible to be considered for reimbursements.

• You must buy a home/plex that has at least 5 rooms, 3 of which are bedrooms and a minimum floor area of 1,033 ft2.
• You are eligible whether you have kids or not.
• You have six months from the date of purchase to provide all documents required to receive payment of the financial assistance.

Examples of financial aid:

• A family of first-time homebuyers with children
  buys a duplex for $345,000. The family will occupy the ground floor and a tenant occupies the top floor.
• The household is eligible for a reimbursement of 100% of the real estate transfer tax (“welcome tax”), which is $3,675.
• A family of first-time homebuyers with children buys a new “family housing unit” with three bedrooms and a floor area of at least 96 m2 for $285,000.

The household is eligible for:

• A reimbursement of 100% of the real estate transfer tax (“welcome tax”), which is $2,775 and
• A lump sum of $12,500
• Total subsidy: $15,275
• In addition, if it is a housing unit built under the SHDM’s AccèsCondo program, the household would also be eligible for a $28,500 purchase credit.

PLUS….
Households with children who take advantage of this program will be eligible for six months of free public transit access on purchase of a one-year OPUS full-fare pass. These families will also receive two free Accès Montréal cards.

N.B.: Applications for financial assistance can only be submitted towards the end of April, once the municipal council has adopted the new program and it comes into effect.

FOR MORE INFOMATION, GO HERE