Top Grants and Rebates (updated July 2014) - PDF
50 Ways to Green Your Home and Save $$$ (updated December 2013) - PDF
Updated: July 2014
| Home Buyers’ Plan: Registered Retirement Savings for down payments | |
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Canada Revenue Agency’s Home Buyers' Plan lets qualifying home buyers use up to $25,000 of their Registered Retirement Savings Plan (RRSP) to buy a home. Couples can use up to $50,000. The home must be the principal residence, the home buyers must not have owned a home within the past five years and the loan must be repaid with 15 years. Disabled home buyers upgrading to a more accessible home also qualify as do relatives helping disabled home buyers. Home buyers who have already used the plan and have fully repaid their RRSP may be eligible to use the plan a second time. | Canada Revenue Agency
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| First-Time Home Buyers' Tax Credit | |
This federal non-refundable income tax credit is for qualifying buyers of detached, attached, apartment condominiums, mobile homes or shares in a cooperative housing corporation. It’s calculated by multiplying the lowest personal income tax rate for the year by $5,000. | Canada Revenue Agency |
| GST Rebate on new homes | |
New home buyers can apply for a rebate of the 5% GST if the purchase price is $350,000 or less. The rebate is up to 36% of the GST to a maximum rebate of $6,300. There is a proportional GST rebate for new homes costing between $350,000 and $450,000. | Canada Revenue Agency |
| BC Property Transfer Tax (PTT) | |
Home buyers in BC pay a provincial Property Transfer Tax (PPT) when they buy a home. The tax is charged at a rate of 1% on the first $200,000 of the purchase price and 2% on the remainder. First-time home 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 between $475,000 and $500,000. At $500,000 and above the rebate is nil. | BC Ministry of Finance |
| BC property tax deferment programs | |
Seniors Financial hardship Families with children | BC Ministry of Finance |
| 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 | BC Ministry of Finance |
| Home Adaptations for Independence (HAFI) | |
A program jointly funded by federal and provincial 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. | For information: |
| Rain barrel subsidy programs | |
Many Metro Vancouver municipalities offer rain barrels for sale, often at a discount for their residents: Other municipalities have similar offers. | For information: |
| Local Government water conservation incentives | |
Your municipality may provide grants and incentives to residents to help save water. For example, the City of Coquitlam offers residents a $100 rebate and the City of North Vancouver, District of North Vancouver, andDistrict of West Vancouver offer a $50 rebate when residents install a low-flush toilet. | For information: |
| 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 you use. Delta, Richmond and Surrey have programs and other municipalities may soon follow. | For information: |
| BC Hydro rebates/savings for the home | |
Fridge buy-back: $30 to turn in spare fridges in working condition. Appliance rebate: save on selected ENERGY STAR clothes washers, refrigerators, and freezers from $25 to $75. Next rebate period is October 2014. Lighting: switch to ENERGY STAR LEDs, CFLs and lighting fixtures. Home electronics: televisions and other electronics identified with Power Smart messaging use significantly less energy than standard products. | For information: |
| BC Hydro Power Smart Partner program for business | |
The Power Smart Partner program 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 a wide range of energy management programs, tools and incentives. | For information: |
| BC Hydro Power Smart Express (PSX) for business | |
Launched June 2, 2014, the PSX program partners BC Hydro with BC’s largest commercial, government and institutional customers (who spend $200,000 or more/year on Hydro). The program provides incentives for various technologies, including lighting, cooking and refridgeration appliances. | For information: |
| FortisBC rebate program for homes | |
Rebates for home owners include: | For information: |
| FortisBC rebate program for businesses | |
For commercial buildings, provides: | For information: |
| Energy Conservaton and Assistance Program | |
BC Hydro and FortisBC offer free energy assessments and energy saving products to low-income customers. Qualified contractors will install upgrades ranging in value from $300 to $5,000 depending on the need of the home. | |
| Energy Savings Kit Program | |
BC Hydro and FortisBC offer low-income customers a free energy saving kit containing products to help save energy and money. | |
| Home Energy Rebate Offer | |
BC Hydro and FortisBC offer home owners rebates for various upgrades and improvements, including insulation, draftproofing, space heating systems, water heating systems and ventilation. These improvements can reduce the average residential customer’s energy bill by 30%. There is a bonus offer for completing three or more of certain upgrades. Total value of available rebates is almost $6,000 per household. | |
| Financial institutions - energy-related savings | |
RBC's Energy Saver Mortgage RBC's Energy Saver Loan BMO Eco Smart Mortgage Vancity’s Bright Ideas home renovation loan CMHC Mortgage Loan Insurance Premium Refund | |
