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New Member
posted Apr 10, 2021 10:36:10 AM

If I made a spousal RRSP contribution, can my spouse allocate an amount to HBP repayment?

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1 Best answer
Level 6
Apr 10, 2021 12:22:33 PM

No. Not all contributions you make to your RRSP(s), PRPP, or SPP in the repayment year or in the first 60 days of the year after can be designated as a repayment under the HBP. You cannot designate contributions that you make to your spouse's or common-law partner's RRSP(s) or specified pension plan (SPP) (or that they make to your RRSP)

 

For further information please click on the Canada Revenue Agency (CRA) link below.

How to repay the funds withdrawn from RRSP(s) under the Home Buyers’ Plan (HBP)

 

Thank you for choosing TurboTax.

1 Replies
Level 6
Apr 10, 2021 12:22:33 PM

No. Not all contributions you make to your RRSP(s), PRPP, or SPP in the repayment year or in the first 60 days of the year after can be designated as a repayment under the HBP. You cannot designate contributions that you make to your spouse's or common-law partner's RRSP(s) or specified pension plan (SPP) (or that they make to your RRSP)

 

For further information please click on the Canada Revenue Agency (CRA) link below.

How to repay the funds withdrawn from RRSP(s) under the Home Buyers’ Plan (HBP)

 

Thank you for choosing TurboTax.