Part B – Repayments under the HBP and the LLP | ||||||||||||||
If you withdrew funds from your RRSP under the HBP and/or the LLP before 2017 you may have to make a repayment to your RRSP, PRPP, or SPP for 2018. Your 2018 minimum required repayment is shown on your latest notice of assessment or reassessment, or your T1028 statement for 2018. |
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Complete line 7 and/or line 8 if you are designating contributions made from January 1, 2018 to March 1, 2019 to your own RRSP, PRPP, or SPP as a 2018 repayment under the HBP or the LLP. If you designate less than the minimum required amount for 2018, report the difference at line 129 of your return. If you are not required to make a repayment under the HBP or LLP, enter "0" at line 9 and continue at line 10. |
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Do not include at lines 7 and 8: | ||||||||||||||
• | any amount you deducted or designated on your 2017 return as a repayment or that was refunded to you | |||||||||||||
• | any contributions or transfers that you will be including on line 14 or 15 in Part C of this schedule | |||||||||||||
Enter the amount from line 5 on the previous page. | 6 | |||||||||||||
Contribution designated as a repayment under the HBP | 246 | 7 | ||||||||||||
Contribution designated as a repayment under the LLP | 262 | + | 8 | |||||||||||
Add lines 7 and 8. | Total repayments under the HBP and the LLP | = | ► | – | 9 | |||||||||
Line 6 minus line 9 | Contributions available to deduct | = | 10 | |||||||||||
For more information on LLP, see Guide RC4112, or on HBP go to canada.ca/home-buyers-plan. | ||||||||||||||
Part C – RRSP/PRPP deduction | ||||||||||||||
Complete this part to calculate your RRSP/PRPP deduction at line 208 of your return. | ||||||||||||||
Enter your RRSP/PRPP deduction limit for 2018 as shown on your latest notice of | ||||||||||||||
assessment or reassessment, or your T1028 statement for 2018. | 11 | |||||||||||||
Enter your 2018 employer PRPP contributions (amount from line 205 of your return). | – | 12 | ||||||||||||
Line 11 minus line 12 | = | 13 | ||||||||||||
Transfers (see "Line 14 - Transfers" below) | 240 | 14 | ||||||||||||
RRSP, PRPP, and SPP contributions you are deducting for 2018, this amount cannot be | ||||||||||||||
more than the lesser of: the amount on line 13 and the result of line 10 minus line 14. | + | 15 | ||||||||||||
Add lines 14 and 15. | = | 16 | ||||||||||||
Enter the amount from line 10 or line 16, whichever is less. | ||||||||||||||
Also enter this amount on line 208 of your return. | RRSP/PRPP deduction | 208 | – | 17 | ||||||||||
Line 14 – Transfers | ||||||||||||||
You may have reported income on line 115, 129, or 130 of your 2018 return. If you transferred certain types of this income to your own RRSP, PRPP, and SPP on or before March 1, 2019, you can claim the corresponding amount on line 14, as a transfer. This ensures that the transferred amount does not reduce your RRSP/PRPP deduction limit. |
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For more information about amounts you can transfer, see Guide T4040. | ||||||||||||||
Note | ||||||||||||||
You may not have reported income you received in a previous year on an income tax and benefit return for that year. If reported, that income may have provided you with additional room for which you could contribute to an RRSP, PRPP, or SPP in subsequent years. To ensure your RRSP deduction limit is up to date and maximized, file an income tax and benefit return for that year and report the income. |
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Part D – Unused contributions available to carry forward | ||||||||||||||
Your unused contributions | ||||||||||||||
Line 10 minus line 17 | available to carry forward to a future year | = | 18 | |||||||||||
This amount is available to carry forward to future years and this amount will be shown on your 2018 notice of assessment. | ||||||||||||||
Continue on the next page | ||||||||||||||
5000-S7 |