The Home Buyers' Plan

ITA 146.01 lets a first-time buyer withdraw from an RRSP without tax, on condition that the money goes back.

The rules

• $60,000 maximum per person.
• Repaid in fifteen equal annual instalments, starting the second year after the withdrawal — with a temporary five-year deferral for withdrawals made in the 2022–2028 window.
• A repayment is not deductible: you already took the deduction when the money went in.
• Miss an instalment and that year's minimum is added to your taxable income.
• The 90-day rule: a contribution made within 90 days of the withdrawal cannot be deducted, to the extent it is withdrawn.
• Your HBP balance must be nil at the start of the year to open a new one.

What the engine does

• Caps the withdrawal, builds the fifteen-year schedule including the relief window, and repays the minimum each December out of unregistered and TFSA savings.
• Adds an unfunded minimum to that year's income, as the Act requires.
• Warns that eligibility is asserted, not verified — the engine knows your dates, not your history.
• In the down-payment view, counts an HBP amount as borrowed money, not savings.

What it deliberately does not

It does not check first-time-buyer status, the four-year rule, or whether the home is bought before October 1 of the following year. Research: docs/research/2026-08-31-home-buyers-plan.md.