- The Home Buyer Plan (HBP) allows you to withdraw up to $35,000, tax–free, from your Registered Retirement Savings Plan (RRSP).
- It can be used only to buy or build a qualifying home.
- After the 2 year grace period, you’ll have a maximum of 15 years to repay the full amount back into your RRSP.
- This is only for;
- First time home buyers
- Residents or Citizens of Canada
- Owner occupied homes