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The RRSP house purchase loan

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In order to treat a loan as an internal RRSP loan, you have to perform an interim step...

First, build the loan as you normally would, entering the amount, rate, amortization and 'pay off loan at date'

Now do a test compute, not worrying about the results except for the loan payments in the result grid.

Next, take those resulting loan payments and manually drop them into the 'spousal' (rollover) column in the data entry grid. Save the data.

Now you can do the final compute as you normally would.

That's it. You have essentially made the loan payments back to your RRSP. Remember, that the proceeds from the RRSP have to have been removed from your RRSP balance in the first place.

If you are simulating the strategy as it might happen out in time, then this can be done as well. Use the 'loan starts' entry in the loan window and remove the amount by entering a negative in the RRSP rollover column at that future time.

(I don't know why this has taken so long to make it into the 'tips' page)

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