§ Calculator · Tax
HBP + LLP repayment tracker
What this is
Your required RRSP repayments
The Home Buyers' Plan (HBP) and Lifelong Learning Plan (LLP) let you withdraw from an RRSP tax-free for a first home or education, but you must repay it over a fixed term. Miss a year's repayment and that amount is added to your taxable income. This shows the minimum repayment and years left on each.
- ·HBP: up to $60,000, repaid over 15 years starting the 5th year after withdrawal.
- ·LLP: up to $20,000 lifetime, repaid over 10 years starting the 5th year after withdrawal.
- ·Annual minimum = outstanding balance divided by years remaining in the term.
HBP repay / yr
$1,786
HBP years left
14
LLP repay / yr
$0
LLP years left
0
Total minimum RRSP repayment this year: $1,786. Contribute at least this to your RRSP and designate it as a repayment, or it is taxed.
Educational. Not financial advice. The grace-year start depends on your specific withdrawal and filing history; verify with CRA Form RC471 (HBP) and Schedule 7.