Home Buyers' Plan (HBP)

The Home Buyers Plan (HBP), as of January 27th 2009 allows for you to take up to $25,000 from your Registered Retirement Savings Plan (RRSP) to purchase a qualifying home for yourself or relative with a disability. If you buy a house with your spouse or common law partner, you may both be eligible to withdraw up to $25,000 from your RRSP.

This withdraw is subject to re-payment, or inclusion in your income.


You must complete Form T1036, Home Buyers Plan Request to Withdraw Funds.

Beginning in the second year following the year you made the withdrawal, and every year thereafter until you have repaid the funds or included them in your income, you must file a completed tax return.

Generally you will have to repay 1/15 of the total amount you withdrew until the entire amount has been repaid.

To determine your eligibility, and to learn more please read Guide RC4135, Home Buyers' Plan (HBP)

Tax Education