Understanding the Home Buyers' 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 or build a qualifying home for yourself or for a related person with a disability. Certain restrictions apply.

Note: the following government form below must be completed to qualify and it must repaid to the RRSP to qualify within 15 years or you will be taxed accordingly.

form T1036 Home Buyers' Plan (HBP) Request to Withdraw Funds from an RRSP

Consult your financial planner 

http://www.cra-arc.gc.ca/hbp/