Home Buyers' Plan

Tax News

Tax tips for new homeowners

New homeowner clients should take advantage of two boosts from CRA.

By Staff |March 12, 2014

1 min read

Estate Planning

Are your clients ready to buy a home?

Your clients have been approved for a mortgage, but you’re not sure they’re ready.

October 23, 2012

2 min read

Estate Planning

5 must-have convos with homebuyers

Discuss emergency funds and contingency plans. Emergency funds should cover between three and six months of living expenses.

October 18, 2012

1 min read

Tax News

Why clients must pay back RRSP withdrawals

The HBP allows first-time home buyers to withdraw up to $25,000 from their RRSPs to assist them with buying a home. The funds need to be paid back over a 15-year period. If payment is missed in a particular year, the amount not repaid must be included in the participant’s income for that year.

By Jamie Golombek |August 8, 2012

3 min read

Home Buyers’ Plan troubles

The Home Buyers’ Plan (HBP) allows first-time home buyers to withdraw up to $25,000 from their RRSPs to assist them with the purchase of a home. The funds need to be paid back over a 15-year period. If payment is missed in a particular year, the amount not repaid must be included in the participant’s income for that year.

4 min read

Canadians raiding their RRSPs: BMO

After months of being lectured on their debt accumulation habits, Canadians have apparently taken up another bad habit, in part to combat the first: raiding their retirement plans. According to a survey conducted by Leger Marketing for BMO Financial, roughly 40% of Canadians with an RRSP admit they have made withdrawals from their plan before […]

By Steven Lamb |February 28, 2011

2 min read

Home Buyers’ Plan troubles

January 1, 2011

4 min read