Of course they are advantages. Canadian rules and regulations really encourage young adults to take a leap of faith and own their first home, hence there are several rebates and credits available.
The First-time Home Buyers' Tax Credit was introduced as part of 'Canada's Economic Action Plan' to assist Canadians in purchasing their first home. You can enable this by clicking on the Land Transfer Tax, choosing your province and see if the option is available in your province.
These rebates are applied to the Land Transfer Tax.
What is the Land transfer tax you may ask?
It's a tax payable on the closing date of your purchase and is usually based on the purchase price of the property. However in some provinces there are is no land transfer fee (like Alberta) . Be sure to set the region in the Closing cost estimator for accurate results.
The Canadian Mortgage App includes Land Transfer Fee calculations for every single region in Canada. Each region has their own unique criteria's and due to the large number of professional users, the app is always updated with the latest information.