January 2020 – New Home Buyers Plan Rules for 2020 Effective January 1st, 2020, Canadians experiencing a breakdown in their marriage or common-law partnership can qualify to withdraw money from their registered retirement savings plan, without incurring a tax penalty, to buy a home. Individuals, who make a withdrawal in the year a breakup occurs, or in the four preceding calendar years, can access the Home Buyers’ Plan (HBP), even if they are not a first-time homebuyer. The HBP allows first-time homebuyers to withdraw up to $35,000 from an RRSP to put toward a down payment on a home without having to pay tax on the withdrawal.