Home Tax Deductions & Tax Credits for Canadian Homeowners

Mortgage not deductible

The tax law for Canada's homeowners is very different from the system in the U.S. Notably, the interest on a mortgage for a principal private residence is not tax deductible. However, all capital gains upon selling the home are tax exempt.

Tax credit vs. tax income deduction

Tax credits effectively reduce taxes by the entire amount of the credit. For example, in 2009, new home buyers received a first-time homebuyer's credit -- which no longer exists -- of $8,000, which reduced their total tax due by $8,000.

By contrast, if you paid $8,000 in mortgage interest for the year, it would not reduce your taxes by that amount. Your taxable income is reduced instead. So if you pay $8,000 in interest and are in the 22 percent tax bracket, your mortgage interest deduction actually reduces your taxes by $1,760, or 22 percent of $8,000.

First-time Home Buyers Tax Credit $5,000. you did not live in another home owned by you or your spouse or common-law partner in the year of acquisition or in any of the four preceding years

GST/HST New Housing/ Rental Property Rebate

Purchased new housing or constructed or substantially renovated housing for use as your primary place of residence  when the construction is substantially completed is less than $450,000

landlord who purchased a newly constructed or substantially renovated residential rental property

If you rent real estate or other property, including farmland that you own or have use of, you will need to report the income to the CRA on Form T776, Statement of Real Estate Rentals, which allows you to claim allowable expenses such as advertising, insurance and interest on money you borrow to buy or improve the property.

Home Buyer’s Plan

withdraw up to $25,000 from RRSP.  completing the T1036 tax form. You will be required to pay 1/15th of the loan each year for the next 15 years. But there will be no interest charges and no taxes incurred.

Homeowners Who Work From Home

The amount that you are eligible to claim corresponds to the percentage of the home used for the business and expenses which could be claimed include, but are not limited to:
Utilities – heating, water and electricity
Insurance
Maintenance
Internet
Office supplies
Cleaning supplies

Moving Expenses

you moved and established a new home to work or run a business at a new location; or
you moved to be a student in full-time attendance in a post-secondary program at a university, college or other educational institution.
To qualify, your new home must be at least 40 kilometres (by the shortest usual public route) closer to your new work or school.

reference:
https://turbotax.intuit.ca/tips/home-tax-deductions-credits-in-canada-5223
https://www.investopedia.com/articles/mortgages-real-estate/08/tax-deductible-mortgage-canada.asp
https://www.moneysense.ca/columns/how-your-home-can-save-you-at-tax-time/