Money out of RRSP for son's condo

My question is: Canadian-specific

QUESTION: I would like to assist my son buy his first property, condo, or
single family home. How is the best way to do this without triggering
income tax if the money I propose to use for this would need to come out of
my RRSP? Can monies loaned to a son or daughter for the purpose of real
estate as a principal residence considered immune from tax?


david ingram replies;

Any money taken out of an RRSP is taxable at the top of your tax rate
"UNLESS" it is taken out to buy your first home or home for a disabled
relative. If your son is not disabled, you can only withdraw money that is
taxable.

You can read more about a Home Buyer's Plan withdrawal at:
http://www.cra-arc.gc.ca/tax/individuals/topics/rrsp/withdrawals/hbp/menu-e.
html