Personal Finance

Payback LLP or HBP with RPP?

  • Last Updated:
  • Mar 22nd, 2011 7:12 pm
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Member
Dec 27, 2007
231 posts
51 upvotes
Toronto

Payback LLP or HBP with RPP?

Hello,

I contribute to an RSP through work. I put in X%, they match it.

This does not show up on my T4, and I get a whole separate RRSP contribution receipt at the end of the year. I can use this towards repayment of HBP in UFile no problem.



My spouse also contributes to an RSP through work. She puts in X%, they match it plus Y%.

This does show up on her T4 in the RPP box.


Anyway, I was under the impression that her share of the contribution (RPP) would be eligible to use towards repaying LLP and HBP amounts owing.

However, I can't see a way to get that to work in UFile.

So am I completely mistaken? (oops) or am I missing where to put that info in?

Thanks.
3 replies
Deal Fanatic
User avatar
Jan 27, 2007
5116 posts
984 upvotes
T.
RPP is not the same as an RSP and can't be used as a repayment of the HBP.

Are you saying there was a withdrawal from that plan under the HBP in the past? If you didn't withdraw from that plan for the HBP or LLP in the past, then you can't use the contributions for a repayment.
Deal Addict
Aug 20, 2007
1983 posts
794 upvotes
Kitchener
Your companies RPP should be on your T4 as a pension adjustment so it is listed there. And from my understanding only the RRSP can be claimed against HBP
Member
Dec 27, 2007
231 posts
51 upvotes
Toronto
Hmmm... Apparently.

I had assumed money that was paid, into a registered plan, that couldn't be withdrawn without penalty, could be used.

Lesson learned.

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