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Is this guide for you?
9 L8 i1 L+ c; S2 ~3 ]( Q+ YUse this guide if you want information about the rules that$ J! x/ d9 n& I. h& A" P
apply to the Home Buyers’ Plan (HBP).3 z8 Z% H$ }) O3 ?* F7 U
What is the HBP?* E6 a1 G# X+ O# e; }+ ^
The HBP is a program that allows you to withdraw up% K/ ]4 A) B+ Z- n. l2 [# b
to $20,000 from your registered retirement savings plans" _$ }: c* J/ U- y* G, v0 O+ x o/ Q
(RRSPs) to buy or build a qualifying home. However, the
% b* |* K/ H! w% ? h; Qprogram sets out certain conditions for participation. If an
! K- l) y; p0 nindividual meets all the applicable HBP conditions, the
, b$ V4 d$ p- j1 Jwithdrawals will not have to be included in his or her
; W# G* h0 q: y6 k& ]6 W) gincome, and the RRSP issuer will not withhold tax on these
' h# M; j; |" j5 O7 gamounts. If you buy a qualifying home with your spouse or
6 d! v7 D" q' ^, `, W# S4 ^" Ycommon-law partner, or with other individuals, each of
6 a7 O) O& O0 d! ^# pyou can withdraw up to $20,000.
( b w5 R0 i# P# IUnder the HBP, you have to repay all withdrawals to your2 Q0 Y# F; n. L- ^) ^! M$ R$ r
RRSPs within a 15-year period. Generally, you will have to& k) }. b; O/ r. b. u3 l
repay an amount to your RRSPs each year, starting the7 r* g2 G- A5 X3 d/ [) m) V B
second year after the funds are withdrawn, until you have
$ S9 ^& h$ }+ x* |repaid the total amount you withdrew. If you do not repay
; [) S5 r, ^3 Y: U9 ^% t6 ]3 E. xthe amount due for a year, it will have to be included in
% `+ i7 Y! @* v+ ]" }, k3 jyour income for that year. |
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发表于 2004-9-8 07:23
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