Awasome Canada First Time Home Buyer Tax Credit Rrsp References. The value of the hbtc is calculated by multiplying $5,000 by the. The home must be used as your principle residence, and if you.

All you need to do is enter the $5,000 first home buyer tax credit value on line 31270 of your income tax return. You, and anyone you purchase the home with, must be considered a first time home buyer to be eligible for the tax credit. If you bought your home during the qualifying tax year and meet all the necessary criteria, you can claim the.