Amounts withdrawn from a Registered Retirement Savings Plan under the provisions of the Home Buyers' Plan must be repaid over a period of 15 years, beginning in the second calendar year after the year of withdrawal.

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This statement is true. The Home Buyers' Plan allows first-time homebuyers to withdraw up to $35,000 from their RRSPs to use towards a down payment on a home. The withdrawn amount must be repaid over a period of 15 years, with the repayment period starting in the second calendar year after the year of withdrawal.

Amounts Withdrawn from a Registered Retirement Savings Plan Under the Provisions