Home Home Buyer's Plan

Keyword: Home Buyer’s Plan

13 results found

A tax expert does the math

The Liberals are expected to loosen rules around when Canadians can dip into RRSPs to fund home purchases.

Inform clients about the do's and don'ts around RRSPs if they're planning to make a contribution or an early withdrawal.

  • By: Staff
  • January 21, 2016 August 21, 2018
  • 10:29

The Conservatives would let first-time buyers take $35,000 from their RRSPs to pay for homes if they’re re-elected.

  • By: Staff
  • August 12, 2015 August 21, 2018
  • 14:07

Once they start house hunting, 43% of people have to raise their budgets.

  • By: Staff
  • September 19, 2014 August 21, 2018
  • 10:14

Four times when clients shouldn’t follow conventional wisdom

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

  • By: Staff
  • March 12, 2014 August 21, 2018
  • 11:41

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

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

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.