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Is this guide for you?$ I" C" C2 U1 e9 E7 w) q1 s6 n
Use this guide if you want information about the rules that, ~3 n8 z1 z# ]+ o2 D, ?2 }
apply to the Home Buyers’ Plan (HBP).& [0 G6 t, D% O" ]- {. f- n
What is the HBP?, I* ?$ C& m# V0 r! D- g
The HBP is a program that allows you to withdraw up
6 d3 U7 M( g- Lto $20,000 from your registered retirement savings plans2 f5 \5 h }5 w$ ]# o9 Y
(RRSPs) to buy or build a qualifying home. However, the
$ Z* W2 |' S5 k$ ^program sets out certain conditions for participation. If an
/ S q+ O1 X# I n$ dindividual meets all the applicable HBP conditions, the
2 s6 \9 W5 Q# h4 J: l. y5 Owithdrawals will not have to be included in his or her
j) A# s% Z0 Q, ~7 T4 A9 w. uincome, and the RRSP issuer will not withhold tax on these
o7 g/ a) W+ |amounts. If you buy a qualifying home with your spouse or3 d! h% M4 V$ M8 I0 D
common-law partner, or with other individuals, each of
1 }- E/ Y) |( X; C1 s" Kyou can withdraw up to $20,000.
- l; n% y, f Z7 `& x/ O/ z2 CUnder the HBP, you have to repay all withdrawals to your1 t! t4 v+ c2 ~) U
RRSPs within a 15-year period. Generally, you will have to$ T! d! b9 M" l% i; V* d
repay an amount to your RRSPs each year, starting the
! A% z" G5 _) {- O( u9 b* Ysecond year after the funds are withdrawn, until you have
$ ?5 u6 Q! s* t2 R O1 prepaid the total amount you withdrew. If you do not repay
( i+ m; S0 r1 O/ ]/ K8 n6 R* r1 v3 ~) jthe amount due for a year, it will have to be included in
3 P1 I; Y! f7 g1 g+ n; fyour income for that year. |
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发表于 2004-9-8 07:23
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