Home Buyers’ Plan (HBP) statement

If you participate in the Home Buyers’ Plan (HBP), you will see your HBP statement on your notice of assessment or notice of reassessment.

The HBP lets you withdraw up to $25,000 in a calendar year from your RRSPs to buy or build a qualifying home for yourself or for a related person with a disability.

Your statement shows your remaining balance to repay, and your minimum required repayment for the next year.

We calculate your balance by subtracting the following amounts from the total you withdrew from your RRSP:

• total repayments
• cancellations
• differences included in income

Your minimum required repayment is a portion of the balance you have left to repay. If you pay less than the minimum amount, you will have to include the difference as RRSP income on your return.

For more information about how the HBP works, see What is the Home Buyers' Plan?

Date modified:

2016-02-11