Home Buyers' Plan (HBP)
The Home Buyers' Plan (HBP) allows you to withdraw up to $60,000 from your registered retirement savings plan (RRSP) to buy or build a qualifying home for yourself or for a related person with a disability.
Key Benefits
- ✓ Withdraw up to $60,000 tax-free.
- ✓ Combined with a partner, you can withdraw up to $120,000.
- ✓ Repayment period of 15 years starting two years after the withdrawal.