What is the Homebuyer’s Plan?

• The Home Buyers Plan is a federal government program that allows homebuyers to use $25,000.00 for each purchaser from his/her own RRSP.

• You must not have owned a principal residence within the last 5 years.

• You must intend to occupy your home as a principal residence.

• Minimum repayment is 15 equal annual installments. This schedule can be accelerated.

• The funds to be withdrawn must have been invested into the RRSP for a minimum of 90 days prior to withdrawal.

• You must complete a Form T1036 .