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Is this guide for you?& B# A' `" F) n; V: _# s- y
Use this guide if you want information about the rules that- W/ r& E; ]- O! c4 g g. M, b* }: H
apply to the Home Buyers’ Plan (HBP).
4 q6 d/ P1 q8 e3 lWhat is the HBP?
; \2 o& h& k3 f4 a: g6 j- H7 nThe HBP is a program that allows you to withdraw up0 W, ^9 Y% p, b- K' w( Q
to $20,000 from your registered retirement savings plans9 A& ~0 n i6 b" I) g
(RRSPs) to buy or build a qualifying home. However, the
7 i/ e9 @- Y4 O9 _* dprogram sets out certain conditions for participation. If an
9 z* ?2 }- @* [) U- Nindividual meets all the applicable HBP conditions, the
" M9 w# ~& o; T/ I ]withdrawals will not have to be included in his or her
8 M- B7 i) [) K( d: {. Xincome, and the RRSP issuer will not withhold tax on these9 g4 h0 B7 b) ]: [5 K$ ], ^
amounts. If you buy a qualifying home with your spouse or2 a9 B( h: I9 E: x8 |
common-law partner, or with other individuals, each of! J4 w6 K% d7 D, B
you can withdraw up to $20,000.
3 h9 L) Z# s6 f( |! z7 `- }Under the HBP, you have to repay all withdrawals to your
- P; }1 P W3 g, V) u" ~) zRRSPs within a 15-year period. Generally, you will have to
. X) w- N0 Q3 K+ n& f. O" O/ [repay an amount to your RRSPs each year, starting the
2 m E9 m: N* R' Usecond year after the funds are withdrawn, until you have: S- s+ k7 Q" O% w9 ?8 l- `
repaid the total amount you withdrew. If you do not repay
, `2 o4 ^, F; I# g4 u. qthe amount due for a year, it will have to be included in
- }& H" X) C0 `your income for that year. |
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发表于 2004-9-8 07:23
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