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Is this guide for you?
& i, _4 V( v! }8 ^Use this guide if you want information about the rules that2 l) n! g7 J; P2 X0 k$ H
apply to the Home Buyers’ Plan (HBP). C+ X# B% F0 J" Y5 Z+ l! i) Z
What is the HBP?& h* v# b7 u9 X% P6 E. W& X( |" i6 t' v
The HBP is a program that allows you to withdraw up" E- z3 X w' Y7 g" f
to $20,000 from your registered retirement savings plans/ `$ |9 h4 c1 i$ Y
(RRSPs) to buy or build a qualifying home. However, the
6 v/ t" x- U& C6 {program sets out certain conditions for participation. If an7 y# l4 m8 R: W8 B
individual meets all the applicable HBP conditions, the
4 z% b, g# U- nwithdrawals will not have to be included in his or her5 V% e" D1 P3 ^- ]
income, and the RRSP issuer will not withhold tax on these* Q. D5 o) E+ E8 T
amounts. If you buy a qualifying home with your spouse or
0 e @3 _% R1 w, [common-law partner, or with other individuals, each of# [3 |; V% s7 ~7 b
you can withdraw up to $20,000.2 [/ S, ?# a# l# y1 M
Under the HBP, you have to repay all withdrawals to your0 @ A1 T0 r9 N9 _) J& V& B& U
RRSPs within a 15-year period. Generally, you will have to
8 C" d$ g7 x* t3 n9 o1 b6 Brepay an amount to your RRSPs each year, starting the7 L) j) G& b5 V7 U
second year after the funds are withdrawn, until you have
% C8 E0 u9 z) t- c1 Z8 O/ qrepaid the total amount you withdrew. If you do not repay3 W$ p& v4 H8 \/ y6 q4 m
the amount due for a year, it will have to be included in2 D* X0 g% a5 _3 q9 o) G
your income for that year. |
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发表于 2004-9-8 07:23
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