You must remain a resident of Canada until the home is bought or built.
AI responses may include mistakes. For financial advice, consult a professional. Learn more home buyers plan non resident
If you successfully purchased a home under the HBP while a resident but subsequently moved abroad, your repayment schedule continues. However, there is a major catch: You must remain a resident of Canada until
The date you file your tax return for the year you left Canada. The 60th day after you became a non-resident. Learn more If you successfully purchased a home
Because you cannot claim RRSP deductions as a non-resident, any "repayment" you make won't offset the income inclusion. Effectively, if you do not (or cannot) make the repayment, the required annual amount is simply added to your Canadian income. You would then file a Section 115 return (if applicable) or deal with the tax implications of that income. 4. The "First-Time Home Buyer" Definition