What happens when my wife's small business income is $0 due to deductions but she needs to pay an HBP repayment of $338? Can I use my (husband) income to cover this?
We also made $0 in RRSP contributions for her in 2018 but almost $20,000 to mine or my spousal RRSP in her name.
01425
1 Replies
TurboTaxKim
Level 15
Oct 31, 2019 4:17:54 AM
No, you cannot use the spouse's income or RRSP Contribution to cover the required minimum repayment to the HBP.
What will happen is the amount of the repayment will show up as RRSP income on Line 129 of your wife's tax return.