TAX QUESTIONS? YOU ASK LAH!
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Q: If someone previously owned a house but has since sold it, are they still eligible to claim the first residential home loan interest relief?
A: No. If a person has previously owned a residential property, even if it has been sold, a subsequent property purchase would still not be considered their first residential home. Therefore, he would not be eligible for the first residential home loan interest relief.
Wishing you plentiful tax savings!
Zen Chow
YYC Tax Guru
