Ontario First-Time Buyer Incentives: What You Actually Qualify For in 2026

Ontario’s first-time buyer incentives are real money — but most of what you’ll find online is either outdated or written for the whole country, not this market. Here’s what’s actually available in Ontario right now, and what you likely qualify for.

The First Home Savings Account (FHSA)

Contribute up to $8,000/year (lifetime max $40,000), get the deduction like an RRSP, and withdraw it tax-free for a home purchase — the best of both registered accounts, purpose-built for this. If you haven’t opened one yet and you’re saving for a down payment, this should be the first call you make.

RRSP Home Buyers’ Plan

Still available alongside the FHSA: withdraw up to $60,000 from your RRSP tax-free, repayable over 15 years. Combined with an FHSA, a couple can put a meaningful down payment together from registered savings alone.

Land Transfer Tax Rebates

Ontario refunds up to $4,000 in provincial land transfer tax for qualifying first-time buyers. Buying in Toronto adds a second, municipal land transfer tax — and a second rebate, up to $4,475. Together that’s real savings at closing, but only if your lawyer applies for both correctly.

The GST/HST New Housing Rebate

Relevant if you’re buying new construction or a substantially renovated home — a partial rebate on the tax portion of the price, on a sliding scale depending on the purchase price.

Stack the FHSA, the RRSP plan, and both land transfer rebates together, and a qualified first-time buyer in Ontario can realistically access well over $130,000 in combined savings and tax-sheltered contribution room. The eligibility rules are specific — which registered accounts you’ve used before, whether you’ve owned a home anywhere in the last four years, purchase price caps on some rebates — so the honest first step is a quick eligibility check, not a guess.

Want to know exactly where you stand? Get in touch and we’ll walk through it together.