Top Grants and Rebates for
Property Buyers and Owners
1. Home Buyers’ Plan
Qualifying home buyers can withdraw up to $25,000 (couples can withdraw up to $50,000) from their RRSPs for a down payment. Home buyers who have repaid their RRSP may be eligible to use the program a second time.
Canada Revenue Agency. Learn more: Visit http://www.cra-arc.gc.ca/hbp/. Or to participate in the Home Buyers’ Plan visit http://www.cra-arc.gc.ca/E/pbg/tf/t1036/README.html or call 1.800.959.8287
2. GST Rebate on New Homes
New home buyers can apply for a rebate for the 5% GST if the purchase price is $350,000 or less. The rebate is equal to 36% of the GST to a maximum rebate of $6,300. There is a proportional GST rebate for new homes costing $350,000 - $450,000. There is no rebate for homes priced at $450,000 and above.
Canada Revenue Agency. Enter ‘RC4028’ in the searchbox or call 1.800.959.8287
3. BC Property Transfer Tax (PTT) First-Time Home Buyers’ Program
Qualifying first-time buyers may be exempt from paying the PTT of 1% on the first $200,000 and 2% on the remainder of the purchase price of a home priced up to $475,000. There is a proportional exemption for homes priced between $475,000 and $500,000. At $500,000 and above the rebate is nil.
Learn more: Visit www2.gov.bc.ca/gov/content/taxes/property-taxes/property-transfer-tax or call 250.387.0604
4. First-Time Home Buyers’ Tax Credit (HBTC)
A federal non-refundable income tax credit for qualifying buyers of detached and attached homes, apartment condominiums, mobile homes or shares in a cooperative housing corporation. The calculation: multiply the lowest personal income tax rate for the year (15% in 2014) x $5,000. For the 2015 tax year, themaximum credit is $750.
Learn more: Visit www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/ddctns/lns360-390/369/menu-eng.html or call 1.800.959.8281
5. BC Home Owner Grant
Reduces property taxes for home owners with an assessed value of up to $1,100,000. The basic grant gives home owners:
• a maximum reduction of $570 in property taxes on principal residences in the Capital, Greater Vancouver and Fraser Valley regional districts;
• an additional grant of $200 to rural home owners elsewhere in the province; and
• an additional grant of $275 to seniors aged 65+, those who are permanently disabled and waveterans of certain wars.
Learn more: Visit www.rev.gov.bc.ca/hog or contact your municipal tax office.
6. BC Property Tax Deferment Programs:
• Property Tax Deferment Program for Seniors. Qualifying home owners aged 55+ may be eligible to defer property taxes.
• Financial Hardship Property Tax Deferment Program. Qualifying low-income home owners may be eligible to defer property taxes.
• Property Tax Deferment Program for Families with Children. Qualifying home owners who financially support children under age 18 may be eligible to defer property taxes.
Learn more: Visit www.sbr.gov.bc.ca/individuals/Property_Taxes/Property_Tax_Derferment/ptd.htm or call 1-888-355-2700
7. Home Adaptations for Independence (HAFI)
A program jointly sponsored by the provincial and federal governments provides up to $20,000 to help eligible low income seniors and disabled home owners and landlords to finance modifications to their homes to make them accessible and safer.
Learn more. Visit www.bchousing.org/Options/Home_Renovations or call 604.433.2218 or toll-free 1.800.257.7756
8. BC Seniors’ Home Renovation Tax Credit
Assists eligible seniors 65+ with the cost of certain permanent home renovations to a principal residence to improve accessibility or help a senior be more functional or mobile at home. The maximum amount of the refundable credit is $1,000 per tax year and is calculated as 10% of the qualifying renovation expense (maximum $10,000 in expenses).
Learn more. Canada Revenue Agency or toll-free 1.800.959.8281 or Visit www2.gov.bc.ca/gov/content/taxes/income-taxes/personal/credits/seniors-renovations
9. CMHC Mortgage Loan Insurance Premium Refund
Provides home buyers with CMHC mortgage insurance, a 10% premium refund and possible extended amortization without surcharge when buyers purchase an energy efficient home or make energy saving renovations.
Learn more: Visit www.cmhc.ca/en/co/moloin/moloin_008.cfm or call 604.731.5733
10. Energy Saving Mortgages
Financial institutions offer a variety of mortgages to home buyers and owners making their homes energy efficient. For example, home owners who have a home energy audit within 90 days of receiving an RBC Energy Saver™ Mortgage may qualify for a rebate of $300 to their RBC account.
Learn more: Visit www.rbcroyalbank.com/mortgages/energy-saver-mortgage.html or call 1.800.769.2511
11. Low Interest Renovation Loans
Financial institutions offer ‘green’ loans for home owners making energy efficient upgrades. Vancity Home Energy Loan personal loan offers home owners up to $50,000 at prime + 1% for up to 15 years for energy efficient renovations. RBC’s Energy Saver loan offers 1% off the interest rate for a fixed rate installment loan over $5,000 or a $100 rebate on a home energy audit on a fixed rate installment loan over $5,000.
For information visit your financial institution.
12. Heritage Energy Retrofit Grant (Pilot Program)
Grants of up to $3,000 per household to assist with energy retrofits for Vancouver homes built before 1940 and homes listed on the Vancouver Heritage Register. This pilot runs to August 31, 2016. It is sponsored by Vancouver Heritage Foundation and the City of Vancouver Sustainability Group with assistance from City Green Solutions. Qualifying retrofits include insulation, air sealing, window repairs and storm windows, and high efficiency forms of heating and hot water.
Learn more: Visit www.vancouverheritagefoundation.org/get-a-grant/heritage-energy-retrofit-grant-pilot-program/. For terms and conditions, visit www.vancouverheritagefoundation.org/wp-content/uploads/2015/09/Heritage-Energy-Retrofit-GrantTerms-an-Conditions.pdf.
13. Energy Conservation and Assistance Program
BC Hydro and FortisBC offer free energy assessments and energy saving products to income-qualifying households. Qualified contractors will install upgrades ranging in value from $300 to $5,000 depending on the need of the home.
Learn more: Visit BC Hydro program info: www.bchydro.com/powersmart/residential/savings-and-rebates/savings-based-on-income/free-product-install-and-advice.html. Fortis BC program info: www.fortisbc.com/Rebates/RebatesOffers/EnergyConservationAssistanceProgram/Pages/default.aspx.
14. Fortis New Home Energy Rebate
Offers Fortis and BC Hydro customers can receive rebates when building ENERGY STAR new homes of when installing high-efficiency natural gas fireplaces.
Learn more: Visit www.fortisbc.com/Rebates/RebatesOffers/NewHomeProgram/Pages/default.aspx.
15. Smart Thermostat Pilot Program
City of Vancouver and Vancity are offering a $125 rebate for a home owner purchasing 1 of 3 smart thermostats which automatically controls the climate in your home. This pilot program runs to December 2016.
Learn more: Visit vancouver.ca/green-vancouver/smart-thermostat-pilot-program.aspx or email firstname.lastname@example.org
16. Home Energy Rebate Offer
BC Hydro and FortisBC offer home owners rebates for upgrades and improvements, including insulation, space and water heating systems and ventilation to reduce the average customer’s energy bill by 30%. There is a bonus offer for completing three or more of certain upgrades. Total value of available rebates: $5,300 per household.
Learn more: visit www.fortisbc.com/Rebates/RebatesOffers/HomeEnergyRebateOffer/Pages/default.aspx.
17. Energy Savings Kit Program
BC Hydro and FortisBC offer income-qualifying customers a free energy saving kit containing products to help save energy and money.
Learn more: Visit www.bchydro.com/powersmart/residential/savings-and-rebates/savings-based-on-income/free-energy-savings-kit.html.
18. ENERGY STAR Appliances
C Hydro Power Smart and various municipalities are offering $100 mail-in rebates to home owners buying ENERGY STAR® clothes dryers and refrigerators. Coquitlam, New Westminster, North Vancouver City, North Vancouver District, Richmond, Vancouver and West Vancouver are participating.
Learn more: Visit www.bchydro.com/news/press_centre/news_releases/2015.big-rebates-on-appliances.html. or call 1.800.663.8400
19. FortisBC Rebate Program for Homes
Rebates for home owners including a $300 rebate for purchasing an EnerChoice fireplace, or up to $1,800 off an ENERGY STAR water heater, or a $1,000 rebate for switching to natural gas (from oil or propane) and installing an ENERGY STAR heating system. Total value of available rebates: $5,300 per household.
Learn more: Visit www.fortisbc.com/Rebates/RebatesOffers/Pages/default.aspx or call 1.800.663.8400
20. Fortis Rebate for Rental apartment buildings
In October 2015, FortisBC launched the Rental Apartment Efficiency Program for owners and managers of rental apartment buildings nine units and larger. The program includes a water-efficient shower head and a kitchen and bathroom faucet aerator directly installed in each unit, a building energy assessment and ongoing professional assistance.
Learn more: Visit vancouver.ca/home-property-development/bank-and-utilities-incentives.aspx. and FAQ’s: www.fortisbc.com/Rebates/RebatesOffers/RentalApartmentEfficiencyProgram/Pages/Frequently-asked-questions.aspx.
21. Rain Barrel Subsidy Programs
Many Metro Vancouver municipalities offer rain barrels for sale, often at a discount for residents. Richmond sells them for $30. Burnaby sells them for $70. Coquitlam sells them for $72. West Vancouver sells them for $55. Other municipalities have similar offers.
Learn more: Visit your municipality's website and enter 'rain barrels' in the search box.
22. Water Wise Kits
Many Metro Vancouver municipalities offer water wise kits and other tools for reducing home water consumption including Burnaby, Coquitlam, Delta,
Learn more: Visit your municipality's website and enter 'water wise kits' in the search box.
23. Local Government Water Conservation Incentives
Your municipality may provide grants and incentives to residents to help save water. Toilets: North Vancouver City, North Vancouver District, and the District of West Vancouver offer a $50 rebate when residents install a low-flush toilet. Richmond offers a $100 utility rebate. Visit your municipality’s website and enter ‘toilet rebate’ to see if there is a program. Clothes washers: replace your old clothes washer with a new, high efficiency ENERGY STAR clothes washer and receive a $100 or $200 rebate from Richmond.
Visit your municipality's website and enter 'clothes washer rebate' to see if there is a program.
24. Local Government Water Meter Programs
Your municipality may provide a program for voluntary water metering, so that you pay only for the amount of water that you use. Burnaby (scroll down), Delta, Richmond and West Vancouver have programs and other municipalities may soon follow. Visit your municipality’s website and enter ‘water meter’ to find out if there is a program.
Visit your municipality's website and enter 'clothes washer rebate' to see if there is a program.
25. BC Hydro Power Smart Partner Program for Businesses
Partners BC Hydro with BC’s largest commercial, government and institutional customers (who spend $200,000 or more/ year on Hydro). Customers gain access to energy management programs, tools and incentives.
Learn more: Visit www.bchydro.com/powersmart/business/programs/partners.html?WT.mc_id=rd_oldpsp or call 1.866.522.4713
26. BC Hydro Power Smart Express Program for Businesses
Provides financial incentives to organizations that replace inefficient technologies with energy efficient technologies.
Learn more: Visit www.bchydro.com/powersmart/business/programs/express.html or call 1.866.522.4713
27. FortisBC Rebate Program for Businesses
For commercial buildings, provides a rebate of up to $45,000 for the purchase of an energy efficient boiler, up to $15,000 for the purchase of a high-efficiency water heater and receive funding towards a new construction energy study.
Learn more: Visit www.fortisbc.com/Rebates/RebatesOffers/Pages/default.aspx. 1.800.663.8400