Home buyer’s plan (HBP)

Home buyer’s plan (HBP)

The Home Buyer’s Plan (HBP) is a program that allows you to withdraw funds from your registered retirement savings plans (RRSPs) to buy or build a house. You can withdraw up to $25,000 over a calendar year.

Generally speaking, you have 15 years to repay amounts withdrawn from your RRSPs. An amount must be repaid each year into your RRSPs until the HBP’s balance is zero. In the event the required amount for a year is not repaid, it must be included in your earnings for that year, so, don’t forget to report it in your annual income tax return. For more advice on the use of this program, please contact us!
 

 
* Mutual funds are distributed through Group Cloutier investments. Please note that mutual funds are not guaranteed. Their values change frequently and past value is not an indication of future performance. Please read the prospectus before investing.