Quote:
Originally Posted by DragonChi
The example in that link wasn't clear whether the repayments were tax deductible. From what I read they're at least partially deductible.
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RRSP repayments are not tax deductable. The government will never allow you to double dip.
If you make a repayment and don't fill out the proper forms, the government will view the repayment as new RRSP purchases, and you will get the tax deductions for it.
But, that portion of RRSP that was used as first time home buyers will go towards your taxable income and you will lose that part of RRSP room, if that makes any sense.
https://turbotax.intuit.ca/tax-resou...buyer-plan.jsp