Home Buyers’ Plan (HBP)

The Home Buyers’ Plan (HBP) is a program that allows you to withdraw up to $20,000 from your registered retirement savings plan (RRSPs) to buy or build a qualifying home for yourself or for a related person with a disability .

Under proposed changes, for 2009 and subsequent years, withdrawals made after January 27, 2009, the maximum is increased to $25,000.

Visit the link below to find out more about the new HBP:

http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/rrsp-reer/hbp-rap/menu-eng.html

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