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Is this guide for you?7 V0 M R4 Z, X3 @8 W9 v1 m
Use this guide if you want information about the rules that
, r) M, N" I% @8 F$ c8 [apply to the Home Buyers’ Plan (HBP).' e/ s/ C& ~% r! U/ K0 V* G: W+ `
What is the HBP?
! w0 l% r) {, k- L7 j# h |2 xThe HBP is a program that allows you to withdraw up4 y* Z5 T4 \% O/ K
to $20,000 from your registered retirement savings plans
0 m( ~ _: p9 f0 [(RRSPs) to buy or build a qualifying home. However, the
& i* d8 C) g: L2 h/ ?9 ^4 [, aprogram sets out certain conditions for participation. If an
: {% h/ R- H; C6 _7 o: `& yindividual meets all the applicable HBP conditions, the( p9 P( t, o# l, r `% C
withdrawals will not have to be included in his or her* o! d$ _" h6 ^! M! R5 ]* R7 t
income, and the RRSP issuer will not withhold tax on these; O- ?% v$ M) I& j% S. c
amounts. If you buy a qualifying home with your spouse or# A2 @$ s$ [8 ~$ k5 `0 I! _
common-law partner, or with other individuals, each of
7 \$ E3 w4 z0 D+ u# a/ xyou can withdraw up to $20,000.
) g6 q6 ]1 C& @/ OUnder the HBP, you have to repay all withdrawals to your7 b: H0 u3 L- y! ~- f
RRSPs within a 15-year period. Generally, you will have to8 ^% u/ o- g/ R$ E" H5 a* z
repay an amount to your RRSPs each year, starting the- l* v9 \! H) M
second year after the funds are withdrawn, until you have
* }& Z: X% a7 srepaid the total amount you withdrew. If you do not repay% h8 D2 Q- k- p8 \' t
the amount due for a year, it will have to be included in- B! o2 C* ^4 Y* x+ |0 U9 i4 H5 z
your income for that year. |
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发表于 2004-9-8 07:23
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