Home Buyers' Plan (HBP)

Home buyers' plan (HBP) is a government program which allows you to borrow funds from your registered retirement savings plan (RRSP) tax free to buy or build your home. 

The main features of this program are:

  • you can withdraw up to $25,000 ($50,000 per couple)
  • withdraws from RRSP are tax free
  • repay your withdraws to your RRSP within a period of no more than 15 years.

A number of conditions have to be met in order to participate in the HBP.

Frequently asked questions about RRSPs (FAQ) 

How to deal with your Home Buyers' Plan (HBP) or Lifelong Learning Plan (LLP) balance when you emigrate?

What is the first-time home buyers’ tax credit (HBTC)?

What is moving expense deduction? 

Additional information