Jump to content
Français

Recommended Posts

Posted

Hello,

In 2020 my wife and I bought a condo and she withdrew $8000 from her RRSP through the HBP program.

This year for the 2022 taxes she is supposed to start paying it back, but in 2022 she had no income (went back to study).

Since she has no tax to pay this year anyway, I am thinking she could declare the entirety of the $8000 as income to repay her HBP, and she would still have no tax to pay since it remains under the minimum threshold for paying taxes. This would save on future taxes when she has an income again.

My question is: do you know of anything that would make it illegal to do this? It seems ok based on what I read on the HBP, but this specific case is never directly addressed, and I want to make sure it would not be considered tax evasion or something like that.

Thank you for your help !

 

 

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
×
×
  • Create New...