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Is this guide for you?
4 G7 D- k* H( _Use this guide if you want information about the rules that( ^5 d5 k, d) N8 O
apply to the Home Buyers’ Plan (HBP).
* @! p- P7 M- Y3 gWhat is the HBP?& Y p- A$ O8 z6 H
The HBP is a program that allows you to withdraw up
- b$ h8 Z/ w5 _3 [8 sto $20,000 from your registered retirement savings plans
2 n- Z* s0 S" ]6 r. ^" J(RRSPs) to buy or build a qualifying home. However, the0 r# q5 v! L! K% t$ A! x' ~9 v
program sets out certain conditions for participation. If an
' R2 n# O4 k& {9 Eindividual meets all the applicable HBP conditions, the
, B6 m8 ^4 {0 N& {- \+ uwithdrawals will not have to be included in his or her
' G1 h* D; Q4 I. J5 k T {* T- Qincome, and the RRSP issuer will not withhold tax on these
6 Q1 f3 {) r4 Y2 xamounts. If you buy a qualifying home with your spouse or
: D4 g3 z. H; ?' r/ j2 acommon-law partner, or with other individuals, each of- B+ W& |4 \ e9 a
you can withdraw up to $20,000." p2 E; a; y; W5 ]
Under the HBP, you have to repay all withdrawals to your
5 _7 T5 | R, S0 V* Z Q5 }RRSPs within a 15-year period. Generally, you will have to
, P1 J& h, C6 o, M6 y5 Irepay an amount to your RRSPs each year, starting the
' { F7 R4 l9 ] T: ], c. X- _second year after the funds are withdrawn, until you have$ O+ K: t. g! ]; Y) W0 y
repaid the total amount you withdrew. If you do not repay: S: l! ~4 N1 ~8 g9 P6 D
the amount due for a year, it will have to be included in
7 ^& c0 q- d9 I# m$ s- l9 `. H' s' Oyour income for that year. |
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发表于 2004-9-8 07:23
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