Name: Home Buyers’ Plan: RRSP Withdrawals for First-Time Buyers
Price: 99 CAD
Rating: 5 (20 reviews)

What You'll Learn

check_circleUnderstand HBP eligibility for first-time buyers.

check_circleLearn the updated $60,000 HBP withdrawal limit.

check_circleGrasp the 89-day rule for RRSP contributions.

check_circleComprehend the 15-year HBP repayment schedule.

check_circleIdentify HBP tax implications and reporting duties.

check_circleNavigate HBP rules for non-residents and death.

About This Course

Unlock the power of your RRSP to achieve homeownership with "Home Buyers' Plan: RRSP Withdrawals for First-Time Buyers." This comprehensive course is meticulously designed for working professionals seeking a deep understanding of how to leverage the Home Buyers' Plan (HBP) to finance their first home. Navigate the complexities of eligibility, withdrawal mechanics, repayment obligations, and critical tax implications with confidence.

Upon completion of this course, you will be able to:

Understand HBP eligibility criteria, including the updated definition of a "first-time buyer," provisions for persons with disabilities, and the nuances of partner-based eligibility.
Master the withdrawal process, from completing Form T1036 and understanding the $60,000 withdrawal limit (effective April 16, 2024), to avoiding immediate withholding tax.
Grasp the critical "89-day rule" to correctly calculate non-deductible RRSP contributions and ensure tax compliance.
Navigate the mandatory repayment schedule, including the temporary repayment relief for recent withdrawals, the mechanics of early and partial repayments, and the tax consequences of missed payments.
Identify contributions that do not qualify as HBP repayments and understand specific exclusions.
Understand the impact of life events like death, relationship breakdown, or non-residency on your HBP obligations and learn how to manage them.
Master the crucial reporting requirements on Schedule 7, ensuring accurate annual tax filings and compliance with Canada Revenue Agency guidelines.

This course ensures you can skillfully leverage your RRSP assets for a down payment or home purchase, preserving the long-term tax advantages of your retirement savings while successfully navigating the path to homeownership.

Your Instructor

Maple Ledger Institute

Advancing Accounting Excellence Across Canada

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star87 reviews

Maple Ledger Institute provides continuing professional development for Canadian accountants, finance teams, and advisory professionals. Our programs are designed to align with CPA provincial body requirements, covering evolving standards in assurance, taxation, financial reporting, and ethics. We specialise in delivering practical, up-to-date CPD that reflects the realities of Canadian regulatory frameworks and the rapidly changing financial landscape.

Credit Information

Is this course eligible for my CPD requirements as a Canadian CPA?

Provincial regulators of CPAs in Canada do not require that independent providers of CPD be approved to offer courses. Instead, individual CPAs are responsible for assessing whether a CPD activity meets their requirements, and may take activities from any source provided those requirements are met.

Every course offered on LearnFormula is delivered by a qualified subject matter expert or learning organization, and advances learning objectives that are relevant to the responsibilities or professional competencies of Canadian CPAs. All activities on LearnFormula are quantifiable in terms of hours, and are also verifiable, in that users receive documented evidence of their attendance via a certificate of completion after finishing a course (and this certificate is stored by LearnFormula indefinitely). Nearly 100,000 Canadian CPAs successfully satisfy their CPD requirements via LearnFormula on an annual basis.

What Students Are Saying

5.0

Student's Choice

20 reviews

Frequently Asked Questions

We are a registered provider with 327+ associations and regulatory bodies worldwide. We operate across 29 global markets including Canada, the US, Australia, and the UK. Every course page clearly displays its specific accreditations. Upon completion, you receive a professional certificate that can be validated online. Our certificates include all necessary accreditation details, credit hours, and completion dates, and are formatted specifically to meet the submission requirements of most global regulatory bodies.