homebuyers plan: Home Buyers' Plan (HBP) Using An RRSP to Buy A Home - 02/19/13 10:51 PM
I’ve often blogged about using your RRSP to buy a home.
But here’s a Secret that many don’t know.
Most know that you can withdraw up to $25,000 from your registered retirement savings plan (RRSPs) to buy or build a qualifying home for yourself and that it requires a repayment of $1,667 every year for 15 years ($25,000/15 years = $1,667). And that any missed repayments are included in your income for that year.
BUT what most don’t know is that you are NOT required to repay the funds back to the same RRSP or institution from which you made your … (0 comments)