Home Buyers Plan Infographic
The Home Buyer’s Plan infographic illustrates this federal program that allows individuals to withdraw up to $35,000 from their registered retirement savings plans (RRSPs) to buy or build a qualifying home for themselves or for a related person with a disability. Certain conditions must be met in order to qualify to participate in the plan and the Home Buyer’s Plan infographic illustrates eligibility, the process to withdraw from your RRSP and the form to use.
For clients who are planning to use their RRSP to help them with a down payment.
Under the terms of the Home Buyer’s Plan, the RRSP must be paid back over fifteen years with an initial payment starting after two year. This infographic highlights how CRA tracks the repayments and what happens if the RRSP is not repaid.
The Home Buyer’s Plan can work along with the First Time Home Savings account to help individuals save for their first home.
Infographic Features
- Communicate complex concepts with vibrant, sharable, easy-to-understand infographics
- Personalized for individual Advisors
- Current and timely for client communications
- One of many infographics included in FreshPlan software
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