You can claim the first-time home buyers’ tax credit (HBTC) in the taxation year in which the qualifying home is acquired.
Q: Do I have to register the acquisition of the home under the applicable land registration system?
A: Yes. Your interest in the home must be registered in accordance with the land registration system applicable to where it is located.
Q: If I purchase a condominium as my qualifying home in which occupancy takes place in one taxation year but the legal transfer of ownership only takes place in the subsequent taxation year, in which taxation year can I claim the HBTC?
A: You can claim the HBTC in the subsequent year in which your interest in the condominium (or a right in Quebec) will be registered in accordance with the land registration or other similar system applicable where it is located.