I changed jobs and transferred the funds in my RPP directly into my RRSP. Can I designate some of funds transferred into RRSP as a Home Buyers' Plan repayment?

[TonyC11 · Accepted solution]

You cannot because the transfer of funds from RPP to RRSP is between registered accounts, and is not subject to deduction limits or recontribution rules. It is not a new contribution as such, and cannot be considered part of your HBP repayment.

With an HBP repayment, you must have made a sufficient actual RRSP contribution, restricted by your Amount A deduction limit.
You cannot deduct the HBP repayment, as it was already deducted previously. Also if you fail to make sufficient new contribution in the year to cover your HBP repayment, CRA assumes you have permanently withdrawn the shortfall amount and treats it as taxable income.