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hbp

  1. Home Buyers Plan Repayment Question

    Taxation
    Hello, I have a question about my wives Home Buyers Plan (HBP) for her 2019 taxes. She has an outstanding balance of roughly $10K to the HBP, and about 10 years to repay it. We are now a single income family, her income is $0. Are there any tax strategies to get around her HBP repayments now...
  2. Repaying HBP after becoming non-resident

    Taxation
    Hi All, Soon I will become a 'non-resident for tax purposes' because I got married and will be moving to my wife's home country. However, a few years ago I bought my house using the HBP. I've been paying it back slowly (annual minimums), but I now realize that once I declare myself a...
  3. Should we pay back the HBP if one spuse isnt working?

    Taxation
    My wife and I both withdrew the maximum $25,000 from our RRSP using the HBP. At the time we were both working and had of course planned to repay the min amount each year given our dual incomes at the time. With a few additions to our family we have decided that my wife will be staying home with...
  4. Skipping Spousal RRSP HBP Repayment

    Taxation
    In 2012, I made a ~$15,000 spousal RRSP contribution for the express intent of withdrawing it under the HBP just over 90 days later (still in 2012). Fast forward to 2015, and in addition to the spousal RRSP HBP repayment, I of course have my own RRSP HBP repayments. Since my spouse stays at...
  5. Spousal RRSP Question

    Taxation
    If my spouse contributes to a spousal RRSP for me, and I withdraw from it the next year (while not working, or only working for part of the year with numerous tuition credits), is that money taxed as my income? Are there any other penalties to consider? What if that withdrawal was through the...
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