Repaying an HBP made at another institution into your RRSP+ at the Fonds can be very advantageous, since it allows you to benefit from tax credits of 30%[1], even if it is an HBP repayment.
For more details, visit the FAQ How do HBP repayments work?
Can I repay an HBP I took out at another financial institution to an RRSP+ with the Fonds?
Yes, to benefit from payroll deduction, your employer must offer RRSP+ through payroll deduction from the Fonds: you set an amount that your employer deducts from each paycheque and deposits into your RRSP+.
Do you have more questions?
Our agents will be pleased to answer any questions you may have at:
514-850-4992
Legal Notes
1
The subscription for shares of the Fonds de solidarité FTQ may give rise to labour-sponsored fund tax credits. The tax credits amount to 30%, namely 15% at the Quebec level and 15% at the federal level, and are limited to $1,500 per fiscal year, which represents a $5,000 subscription for shares of the Fonds de solidarité FTQ. These shares can be held in an RRSP at the Fonds de solidarité FTQ and allow you to benefit from the tax credits, in addition to the RRSP deduction from your income. These shares can also be held in a non-RRSP account at the Fonds de solidarité FTQ. In this case, you can only claim the tax credits. Thus, by subscribing for shares of the Fonds de solidarité FTQ held in an RRSP at the Fonds de solidarité FTQ, you can, depending on your tax situation, benefit from more tax savings than the usual RRSP deduction. The Fonds de solidarité FTQ uses the term "RRSP+" to illustrate this enhanced tax benefit.
Please read the prospectus before subscribing for shares of the Fonds de solidarité FTQ. Copies of the prospectus may be obtained on the Website fondsftq.com, from a local representative or at the offices of the Fonds de solidarité FTQ. The indicated rates of return are the historical annual compounded total returns including changes in share value and reinvestment of all dividends and do not take into account income taxes payable by any security holder that would have reduced returns. The shares of the Fonds de solidarité FTQ are not guaranteed, their value changes and past performance may not be repeated.
