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ONTARIO HOME OWNERSHIP SAVING PLAN

To provide a savings plan and refundable tax credit that helps lower-income individuals and couples (married or in a common-law partnership) save towards the purchase of a first home.

The Income Tax Related Programs Branch in the Tax Revenue Division of the Ministry of Finance administers the OHOSP program, in partnership with participating financial institutions.

Contributions to OHOSPs are made at participating financial institutions. Joint OHOSPs are not available, so each spouse or common-law partner may open a separate plan.

Claim your tax credit on the ON 479 Ontario Credits form included with your federal income tax return.

The Land Transfer Tax Refund Program, available to purchasers of newly constructed homes only, is administered by the Motor Fuels and Tobacco Tax Branch in the Tax Revenue Division of the Ministry of Finance.

OHSP: Saving to Buy a New Home

Ontario Home ownership savings plan is a great way for low-income families or in common-law partnerships, to buy their first home. Mississauga real estate is the best place for first time buyers. It offers a wonderful view onto Lake Ontario and the city limits.
 

   

Ontario Home Ownership Plan is targeted to the low-income and common-law partnerships. It's offered to the first time buyers looking to buy there first home / property in the Mississauga Real Estate area. Contributions to OHOSPs can be made at participating financial institutions. Contributors can claim exemptions on your tax credit, on the ON 479 Ontario Credits form included with your federal income tax return.

   

   

   
® Realty Specialists Inc.
2691 Credit Valley Road, Suite 101
Mississauga, Ontario   L5M 7A1
Damir Strk - Mississauga Real Estate Agent
Telephone: 905-828-3434  Fax: 905-828-2829
Direct Toll Free in North America:1-866-838-3434

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