 鲜花( 0)  鸡蛋( 0)
|
Is this guide for you?4 I+ ]$ p! h# \( \$ Q# u
Use this guide if you want information about the rules that
% r) a; G: i' p3 e3 ~apply to the Home Buyers’ Plan (HBP).
3 e' n a1 T: M$ B, EWhat is the HBP?+ R/ [" N6 c1 }, k
The HBP is a program that allows you to withdraw up1 A0 W( }; t8 I
to $20,000 from your registered retirement savings plans
0 u9 c) M. R- G3 p' J5 L5 v& D(RRSPs) to buy or build a qualifying home. However, the
, y1 M: b! @& M/ }0 B$ mprogram sets out certain conditions for participation. If an2 a& g6 ^! S. W0 s& z+ Z" r
individual meets all the applicable HBP conditions, the" T$ g: T. z( M' N- {3 M
withdrawals will not have to be included in his or her
3 G# d# `0 ~. q! i% z% oincome, and the RRSP issuer will not withhold tax on these0 N9 R S+ `+ r) o/ P
amounts. If you buy a qualifying home with your spouse or
# e2 v4 F/ w/ R e4 U/ P2 ycommon-law partner, or with other individuals, each of
& S. }4 S7 Z2 {5 b; Nyou can withdraw up to $20,000.+ n* c% p; z; _% r! O4 W3 S
Under the HBP, you have to repay all withdrawals to your: n7 L5 J: Y0 R* d9 |9 _
RRSPs within a 15-year period. Generally, you will have to, A( ~2 e+ e3 \6 q% z! ]2 U
repay an amount to your RRSPs each year, starting the: ~4 X. I0 J( T! d6 h+ t/ q1 F1 ~
second year after the funds are withdrawn, until you have+ m3 ]: D5 M1 k9 G @& S4 ]
repaid the total amount you withdrew. If you do not repay: u" A8 j2 ~/ y. _ W' O) I
the amount due for a year, it will have to be included in
3 |4 g( V: l7 K3 syour income for that year. |
|