§ 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.
Disclaimer
Educational, not financial advice. Output is generated by an AI assistant using simplified assumptions. Tax rates, contribution limits, and benefit amounts change annually; confirm with a CFP, CPA, or the relevant Canadian regulator (CRA, FSRA, OSC, IIROC) before acting.