How can I make the minimum payment to HBP if I did not contribute to RRSP in 2018? It is currently showing up as income.

[TurboTaxJennifer · Accepted solution]

If you didn't contribute to your RRSP, the amount you're due to repay will convert to taxable RRSP income.

The good news is that you still have time to make that contribution. The deadline to contribute to your RRSP is March 1, 2019. So, if you make an RRSP contribution next week that's large enough to cover the HBP repayment, you'll be able to designate that contribution as your HBP repayment on your 2018 tax return.

Here's a link for more information: https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/rrsps-related-plans/what-hom...

[korruptor55]

Does this happen automatically, or am I supposed to enter the amount I need to repay this year someplace?