Withdrawing RRSP's under HBP?

My husband and I withdrew funds from our RRSP to purchase a house under the HBP in the fall of 2005. I didn't include the T4RSP when I prepared our income taxes for that year (It came later). I don't remember seeing anything on the assessment about it, but we will have to start contributing back to our RRSP at the end of the year. Do I need to file an adjustment for 2005 to include the T4RSP, even though it didn't affect income for that year? They've always adjusted my returns accordingly if something didn't match up but, like I said, I don't remember seeing anything on the assessment about it. I think I already know the answer to my question - I just wanted to run it by you.

Yeah, that's just what happened with me. I forgot about that slip coming and completed my return without it. I was hoping just to make sure that I designate repayment on my next return instead of filing an adjustment. Glad we're on the same wavelength. Thanks. =)

I wouldn't bother adjusting your 2005 tax return. Actually, I did the exact same thing, having purchased in early 2005. I completely forgot about the T4RSP coming and completed my return before I received it.

If you use a commercial tax prep package it should have the HBP repayment worksheet. I'd just fill that out and make sure you either designate the repayments or add the income to cover the repayment once they're required. If the government adjusts your return to remove the repayment then at that point I'd send them a letter and a copy of the T4RSP. That's my plan anyway.

Cheers!