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Cross-border visits by Canadian and U.S. residents up from last year: StatCan

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federal budget 2022
EN - Money

The First-Time Home Buyer Incentive Is Being Extended By The Feds For 3 More Years

The government is also planning to introduce a Tax-Free First Home Savings Account. 🏠

Mark Hryciw | Dreamstime, Rodrigolab | Dreamstime
Lisa Belmonte
April 09, 2022, 10:42 AM

The First-Time Home Buyer Incentive is being extended for three more years to help people buy a home in Canada, the federal government announced.

In the new federal Budget 2022 that was released on April 7, the government revealed that the First-Time Home Buyer Incentive will now be available until March 31, 2025.

"The government is exploring options to make the program more flexible and responsive to the needs of first-time home buyers, including single-led households," it said.

With the First-Time Home Buyer Incentive, the government offers buyers 5% or 10% of a home's purchase price to put toward a down payment to lower mortgage carrying costs.

The program is a shared equity mortgage which means the government shares in the property value.

To try and make housing more affordable in Canada, other steps were proposed including doubling the First-Time Home Buyers' Tax Credit to $10,000 and providing up to $1,500 in direct support.

That would apply for homes purchased on or after January 1, 2022.

There is also a plan to introduce a Multigenerational Home Renovation Tax Credit which would provide up to $7,500 for constructing a secondary suite for a senior or an adult with a disability.

The government has pledged $475 million in 2022 and 2023 to provide a one-time $500 payment to those facing housing affordability challenges.

Also, there's a plan to create a Tax-Free First Home Savings Account so that people planning to buy their first home can save up to $40,000 without having to pay tax on withdrawals for down payments.

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Cross-border visits by Canadian and U.S. residents up from last year: StatCan

Cross-border visits by Canadian, U.S. residents up
THE CANADIAN PRESS/Christinne Muschi

Statistics Canada says more Canadians and Americans have travelled across the border between the two countries over the last six months compared to last year. 

The agency says Canadian residents made 1.9 million return trips from the United States last month by automobile and by air, up 6.8 per cent compared to September 2025. 

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B.C. Conservatives' leader Doerkson rides the whirlwind in rise from obscurity

B.C. Conservatives' Doerkson rides the whirlwind
THE CANADIAN PRESS/Darryl Dyck

When interim B.C. Conservative leader Lorne Doerkson received a phone call from one of his daughters just two days after David Eby called a snap provincial election, he didn't have time for a conversation.

In the whirlwind of activity he'd "kind of forgotten" it was his 58th birthday. 

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Pont Honoré-Mercier : Une fissure force la fermeture d'une voie pour une durée indéterminée

Et ce sera pour une durée indéterminée... 🥴

Les Ponts Jacques Cartier et Champlain Incorporée

Si tu devais te rendre à Montréal en passant par le pont Honoré-Mercier, tu voudras peut-être revoir ton trajet. Le ministère des Transports et de la Mobilité durable (MTMD) a annoncé la fermeture temporaire d'une voie en direction de la métropole à la suite d'une inspection. Du trafic est donc à prévoir si tu n'as pas d'autre choix que d'emprunter ce lien routier.

À lire également : La Ronde ferme temporairement le Goliath pour des vérifications et voici quoi savoir

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