Home Buyers’ Plan (HBP)

Here is another incentive to assist people with home ownership.

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.

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

Information from government of Canada web site deemed accurate but not guaranteed.