Welcome Tax Refund for First-Time Buyers in Quebec

The Government of Quebec has introduced a refundable tax credit to reduce real estate transfer duties (“welcome tax”) for first-time homebuyers.

Eligibility

• Purchase of a first property

• Property value under $1,000,000

• Purchase made as of January 1 (retroactive measure)

Refund Amount

• 100% of the first $5,000 of transfer duties

• 25% of the remaining amount, up to $875

• Maximum refund: $5,875

The refund is granted as a tax credit when filing your income tax return.

Example

For transfer duties of $5,600:

• $5,000 refunded at 100%

• $600 × 25% = $150

Total refund: $5,150

Limitation and Transparency
I cannot confirm the exact details (such as precise effective dates or administrative specifics) without a recent official reference. It is recommended to verify with Revenu Québec or a tax professional to confirm how this applies to a specific situation.