Whether you're buying a home, selling your home or relocating to Burnaby, the following information, resources and tools will help to guide your decision.
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F.Y.I: Top 10 Great Grants, Rebates & Exemptions
1. Federal ecoENERGY Efficiency Initiative-Natural Resources Canada
For more info: http://ecoenergy-ecoenergie.gc.ca/index-eng.htm
- A new program that provides $300 million across Canada for the next 4 yrs for homeowners and smaller businesses to retrofit or build new energy efficient homes and buildings. Homeowners can claim upto $5,000 for renovations to improve their home's energy efficiency.
2. Property Transfer Tax (PTT) First Time Home Buyer's Program Exemption
For more info: www.rev.gov.bc.ca/rpt
- Exempts qualified first-time buyers from paying the Property Transfer Tax which is 1% of the first $200,000 of market value and 2% on the remainder on homes priced up to $425,000 in the GVRD, FVRD & CRD and up to $265,000 elsewhere.
3. BC Home Owner Grant
For more info: www.rev.gov.bc.ca/hog/
For 2010, the home owner grant will be reduced on higher-valued properties by $5 for each $1,000 of assessed value over $1,050,000. The basic grant is eliminated on homes assessed at $1,164,000 or more, and the additional grant is eliminated on homes of $1,219,000 or more
The basic grant can reduce your property tax by as much as $570
In addition to the basic grant, the additional grant can reduce your property tax by a further $275, for a total of up to $845.
4. PST Exemptions for Energy Conservation
- Exempts energy efficient materials including double-glazed windows, insulation, draft reducing materials, furnaces, boilers, heat pumps and related from the PST.
5. PST Relief Grant Program
For more info: www.hpo.bc.ca/PST/index.htm
- Provides grant assistance to owners of leaky homes including single detached, duplexes, strata councils, and housing co-op boards, who have repaired damage caused by premature building envelope failure.
6. Energy Savings Plan (ESP)
For more info: www.saveenergynow.ca/programs/sdr
- Provides grants of upto $2,500 for energy efficient upgrades to owners of pre-1990 single family, row and townhouses in pilot communities including: Bowen Is, Burnaby, North Vancouver City, Port Moody, Squamish, Vancouver and Saltspring Is.
7. GST on New Home Rebate
For more info: www.cra-arc.gc.ca
- Lets eligible buyers of new homes with a market value of less than $450,000 purchased from a builder claim a rebate of up to $8000.00
8. CMHC Grants-includes Energy Efficient Housing Mortgage Loan Insurance Premium
Refunds and Residential Rehabilitation Assistance Program (RRAP) Grants
- Provides home buyers with CMHC mortgage insurance a 10% premium refund when buyers purchase an energy efficient home or make energy savings renovations.
- RRAP offers financial assistance to low-income households who own and occupy substandard housing to enable them to repair their dwellings to a minimum level of health and safety.
9. Terasen Gas ENERGY STAR Qualified Heating System Upgrade
For more info :
- Provides coupons and rebates of upto $1,000 towards the purchase of a new ENERGY STAR qualified gas heating system as well as gas bill credits.
10. BC Hydro Fridge Buy-Back Program
For more info: www.bchydro.com/powersmart/fridge/fridge8437.html
- Rebates BC Hydro customers $30 to turn in their old, ineffcient, refrigerator. Fridges must measure between 10 and 24 cubic feet and still work. Will pick up a maximum of 2 refrigerators.