The HBP permits an individual to borrow up to $20,000 from his/her RRSP to purchase a home in Canada. To qualify, the borrower, or his/her spouse, cannot have an owner-occupied home in the four preceding years. Each spouse may withdraw up to $20,000 from their RRSPs to jointly purchase a home.

An RESP permits an individual to put funds with a Trust Company for the post-secondary education of one or more beneficiaries. The Trust is exempt from income tax.

Contributions to a RESP may also be eligible for a Canada Educational Savings Grant (CESG).

In a 2004 Advance Income Tax Ruling, CRA Ruled that the arm’s length employees of a construction company may have their RRSPs invest in a SBIT which will provide loans to developers.