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Is this guide for you?
0 g1 J6 k* ~: M0 s! L. xUse this guide if you want information about the rules that
9 O# a8 i Y, T7 K; W6 M6 |apply to the Home Buyers’ Plan (HBP).
( d# r" z9 t+ H1 g" b2 Z1 ?6 N$ NWhat is the HBP?7 [2 d7 h5 o5 _# B1 r0 r& l: O, S
The HBP is a program that allows you to withdraw up
4 q- s1 h3 S! R6 A" Vto $20,000 from your registered retirement savings plans. s( z x1 V/ N' Y; w% V. t* |: N
(RRSPs) to buy or build a qualifying home. However, the
$ C& X- ^2 x: x6 O8 t1 gprogram sets out certain conditions for participation. If an
" g! W5 T. O! Q$ g, L- Yindividual meets all the applicable HBP conditions, the/ o) x2 V+ w0 ^) Q: j- k4 H
withdrawals will not have to be included in his or her2 K2 B' _4 ~, Z4 W8 k; I* \: ]+ `
income, and the RRSP issuer will not withhold tax on these6 J2 F- b, ]3 k; c, W H
amounts. If you buy a qualifying home with your spouse or
}7 d5 f8 |6 jcommon-law partner, or with other individuals, each of
# Z3 C. K. H6 R, B0 M2 b- myou can withdraw up to $20,000.
0 f8 ?- z9 J# a! x5 X3 O* D1 ^Under the HBP, you have to repay all withdrawals to your
% r. P1 Y' x+ N) o% \( lRRSPs within a 15-year period. Generally, you will have to
$ L5 l: ]4 F4 Prepay an amount to your RRSPs each year, starting the+ q) J% W3 X& v* x' q! @
second year after the funds are withdrawn, until you have
- m: m" E* y1 N0 Q0 w, ~: V. Krepaid the total amount you withdrew. If you do not repay2 Q* e/ ~. p0 Z
the amount due for a year, it will have to be included in, O4 T6 Y5 I$ O n
your income for that year. |
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发表于 2004-9-8 07:23
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