Canada’s Home Buyer’s Plan (HBP)
The Home Buyers Plan (HBP) is a program that allows you to withdraw up to $25,000 in a calendar year from your registered retirement savings plans (RRSPs) to buy a qualifying home for yourself or for a related person with a disability.
The specifics of this plan are subject to change, so we recommend referencing the links below to the CRA website and reaching out to your North Shore Wealth Management Advisor for additional information:
- How to Participate in the Home Buyers’ Plan (HBP)
- How to withdraw funds from RRSP(s) under the Home Buyer’s Plan (HBP)
- How to repay the funds withdrawn from RRSP(s) under the Home Buyer’s Plan (HBP)
- How to cancel your participation in the HBP
- How to report repayments on your income tax and benefit return
- How to view your Home Buyer’s Plan (HBP) account balance: Use MyCRA- MyAccount