Premier Christine Fréchette announced a new credit to reduce the costs of buying a home for a future buyer. The amount of the tax credit is the total of the following amounts:

-100% of the first $5,000 paid as transfer duties;

-25% of the $3,500 paid as transfer duties in excess of the first $5,000, if applicable, for additional assistance of up to $875.

Eligibility requirements

An individual, other than a trust or certain tax-exempt individuals, who is resident in Quebec at the end of a taxation year beginning after December 31, 2025 (or if the individual died within the year, on the date of death) will be entitled to a refundable homeownership tax credit in respect of the transfer duties charged by a municipality on the transfer of a qualifying home acquired in the taxation year.

This tax credit refunds up to $5,875 of the amount of transfer duties paid to a municipality.

For the purposes of this tax credit, an individual will be considered to have acquired a qualifying home on the first day on which the individual's interest in the unit is published in the land register and the unit is habitable.

A dwelling is a first dwelling for an individual if the following conditions are met:

-the individual did not own, either alone or jointly, a dwelling unit that the individual occupied during the period that began at the beginning of the fourth preceding calendar year that ended before the acquisition of the dwelling and that ended on the day before the day on which the dwelling was acquired (hereinafter referred to as the relevant period);

-the individual's spouse did not own, alone or jointly, during the relevant period, a dwelling unit that the individual lived in during their marriage, civil union or common-law partnership.

Note that, to be eligible for the tax credit, the individual or his or her spouse must have paid the transfer duties.

It is important to meet all the criteria on the form to be eligible. Do not hesitate to discuss it with your tax accountant or refer to the Revenu Quebec website Introduction of a Refundable Tax Credit for Access to Homeownership | Revenu Québec