RRSP & HBP
Howdy RFD,
I have a question on how the HBP repayment works.
I took out a loan under the HBP in july of 2017.
I have 15 years to repay it.
CRA does not show that I have an HBP loan out yet.
When does the first year I can repay start? (2017? 2018?) and how do I "repay" the loan? Are there forms I have to fill out?
I maxed my contribution room for the 2017-RRSP based off of my NOA. Does some of that $ go towards the HBP automatically? or only if I fill out a form?
In addition, if I maxed out my room, can I then contribute more to repay the HBP for the 2017 year?
Cheers,
I have a question on how the HBP repayment works.
I took out a loan under the HBP in july of 2017.
I have 15 years to repay it.
CRA does not show that I have an HBP loan out yet.
When does the first year I can repay start? (2017? 2018?) and how do I "repay" the loan? Are there forms I have to fill out?
I maxed my contribution room for the 2017-RRSP based off of my NOA. Does some of that $ go towards the HBP automatically? or only if I fill out a form?
In addition, if I maxed out my room, can I then contribute more to repay the HBP for the 2017 year?
Cheers,
Last edited by mlong813 on Jan 4th, 2019 9:39 am, edited 1 time in total.