Home Breadcrumb caret Economy Breadcrumb caret Economic Indicators Tories would up RRSP cash-out for new homebuyers The Conservatives would let first-time buyers take $35,000 from their RRSPs to pay for homes if they’re re-elected. By Staff | August 12, 2015 | Last updated on August 12, 2015 1 min read The Conservatives would let first-time buyers take $35,000 from their RRSPs to pay for homes if they’re re-elected. Under the Home Buyers’ Plan, new buyers can currently take $25,000 from their registered retirement plans, tax free, to purchase their starter homes. Owners must pay the money back within 15 years of the withdrawal. Read: Should clients use mortgage insurance calculators? The Conservatives say skyrocketing home prices in cities such as Toronto and Vancouver are making the increase necessary. If re-elected, a Conservative government would also collect data on how foreign investors are impacting the Canadian housing market. Also read: Federal leaders debate whether Canada is in recession Harper promises to make home-renovation tax credit permanent Staff The staff of Advisor.ca have been covering news for financial advisors since 1998. Save Stroke 1 Print Group 8 Share LI logo