Home Buyers' Plan

The Home Buyers' Plan allows eligible individuals to withdraw up to $20,000 tax free from their Registered Retirement Savings Plan (RRSP) to purchase or build a qualifying home.

Delivered by: Canada Revenue Agency (CRA)

Eligibility Information

The Canada Revenue Agency considers the following persons first-time home buyers:

persons, including former homeowners, who have not owned a home they occupied as a principal place of residence at any time during the four-year period before the date of withdrawal of funds
disabled persons acquiring a more accessible home
persons acquiring a more accessible home for a disabled person related to them by blood, marriage, common-law partnership or adoption
persons providing funds to a disabled person related to them by blood, marriage, common-law partnership or adoption, to build or purchase a more accessible home
other criteria may apply

Participants must begin repayment two years after withdrawing the funds.
Amounts withdrawn under the Plan must be repaid over a period of no more than 15 years.