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Is this guide for you?
* M# d* ^0 K) J3 w3 AUse this guide if you want information about the rules that
0 l% A7 `. j4 e5 @+ j' |apply to the Home Buyers’ Plan (HBP).
3 F! a9 k: F6 o( e9 N( O* Z; ~What is the HBP?
8 R F' e* T* ?; SThe HBP is a program that allows you to withdraw up0 } \! D2 {1 |( e
to $20,000 from your registered retirement savings plans
' c' U& [( Z2 q& P# Z! v$ l(RRSPs) to buy or build a qualifying home. However, the8 I/ y3 Y$ A' R8 M8 h2 I" H
program sets out certain conditions for participation. If an
# t+ B% F, e+ w" ]( ?individual meets all the applicable HBP conditions, the! T: t: K- P) H, o; Y& R
withdrawals will not have to be included in his or her4 _: X a2 z& ?# R; e9 u6 f
income, and the RRSP issuer will not withhold tax on these5 H" P" k' O# L$ P% a/ n
amounts. If you buy a qualifying home with your spouse or! D# y( F) f# `+ r' A1 b# b- N4 |
common-law partner, or with other individuals, each of2 K* p$ D) `" g
you can withdraw up to $20,000.
J" {1 n. ^+ p. w+ T* nUnder the HBP, you have to repay all withdrawals to your
) }6 \% _/ i8 V; ZRRSPs within a 15-year period. Generally, you will have to
& x# b0 f; X; Krepay an amount to your RRSPs each year, starting the
$ a1 b' R Y p* U6 J, zsecond year after the funds are withdrawn, until you have' P* S9 I5 y# B2 r J
repaid the total amount you withdrew. If you do not repay# g" ~2 l+ L' D6 ~! c2 u
the amount due for a year, it will have to be included in' n( e: }( P9 ?4 g( |( p s
your income for that year. |
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发表于 2004-9-8 07:23
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