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Old 02-21-2011, 05:47 PM   #1
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Spousal RRSP's and Home Buyers Plan.

Got a question regarding spousal RRSP's and the Home Buyers Plan.

Me and my fiance are planning to buy a home in the future. I have over the $25k RRSP withdrawal limit for Home Buyers Plan (HBP) invested. My fiance does not, so if I were to contribute spousal RRSP's (ie, the contribution affects my taxable income), can we both
withdraw up to $25k each under the HBP plan, or do we not qualify since I am the one who made the majority of the RRSP investments?
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Old 02-25-2011, 05:02 PM   #2
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I don't think it matters who makes the contribution, since under the spousal plan you are contributing into her registered account. I'm pretty sure it works this way, but I am no certified expert though.
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Old 02-25-2011, 05:50 PM   #3
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call they cra, they have a pretty nice call in phone line and you get to talk to real people
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Old 02-27-2011, 01:38 AM   #4
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u have to note that when you make a contribution into a spousal plan, it takes 3 years to actually be in her name for the withdrawal or else it would be in your name
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Old 02-27-2011, 09:26 AM   #5
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thanks guys, went to see the wife's financial advisor on friday and got everything settled.
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