First Time Home Buyer Credit Eligibility
June 20th, 2010
Question: If you bought a house in August 08 can you still qualify for the tax refund?.?
THIS IS THE PART THAT HAS ME CONFUSED:
Different income eligibility limits apply depending on when you bought the house. If you purchased it before November 7, 2009, you are eligible for the full first-time home buyer’s tax credit if you are single and your income didn’t top $75,000 or if you are married and your joint income didn’t exceed $150,000. The credit phases out for individuals with incomes up to $95,000 and married couples with joint incomes up to $170,000, disappearing above those income levels.
We did not own a house for 4 years before this purchase, so I know we qualify as a first time home buyer. It states that you must not have owned for at least 3 years before.
We are married, and live on one income of $60 a year.Answer: You are eligible for $7500 refundable interest free loan payable in 15 years.
Opportunities To Have A Tax Effective Investment Home Loan In The Lead Up To June 30, 2010
Australia’s leading mortgage broker, Aussie Home Loans, today urged investment property owners to investigate to minimise their tax exposure in the lead-up to the end of the financial year on June 30, 2010.
Married Couples and the Home Buyer Tax Credit.mp4
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