Parviz withdrew $15,000 from his RRSP under the Home Buyers' Plan in 2018 and used the funds for a down payment on a qualifying home. He made a repayment of $700 during 2020. Taking into consideration his repayment, his Home Buyers' Plan will have what effect on his 2020 taxable income?

Question

Quizplus · Accepted Answer

The Answer of Parviz withdrew $15,000 from his RRSP under the Home Buyers' Plan in 2018 and used the funds for a down payment on a qualifying home. He made a repayment of $700 during 2020. Taking into consideration his repayment, his Home Buyers' Plan will have what effect on his 2020 taxable income?

Parviz Withdrew $15,000 from His RRSP Under the Home Buyers