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Is this guide for you?
9 R5 ~! r4 h( a2 {0 q. x9 `Use this guide if you want information about the rules that: ]6 S& A6 c5 L) F7 f% }# S$ u
apply to the Home Buyers’ Plan (HBP).2 D/ F% [8 i* r
What is the HBP?
, ^5 N. E% T# IThe HBP is a program that allows you to withdraw up
, r. |3 o0 ~* o8 [ E0 e7 hto $20,000 from your registered retirement savings plans) T* H# p, s5 H1 D8 F" p
(RRSPs) to buy or build a qualifying home. However, the9 }- D8 r+ e, e( O. L5 A+ L
program sets out certain conditions for participation. If an
+ V( |3 ^) V4 x6 Zindividual meets all the applicable HBP conditions, the
" K7 T5 s1 M) w' A5 \: Qwithdrawals will not have to be included in his or her4 X2 T0 W' F9 X$ H# ?
income, and the RRSP issuer will not withhold tax on these+ Y, d+ Y5 ?1 f5 H7 t/ b& ^
amounts. If you buy a qualifying home with your spouse or% d0 C" I" m: U
common-law partner, or with other individuals, each of
9 [' X7 |% [% D2 i, l0 `you can withdraw up to $20,000.
+ O, I% ~; k sUnder the HBP, you have to repay all withdrawals to your
3 ? s2 l4 y$ t9 YRRSPs within a 15-year period. Generally, you will have to; A m3 A. \, Q- M9 T
repay an amount to your RRSPs each year, starting the
# E: D$ N2 e; m. {second year after the funds are withdrawn, until you have
5 G7 Y2 U- D: N6 M3 ?8 z$ r. yrepaid the total amount you withdrew. If you do not repay
( Z1 L8 g% N& [( g6 J n1 ]3 athe amount due for a year, it will have to be included in
3 S4 i* W% Y2 B) g# p g0 i e6 Iyour income for that year. |
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发表于 2004-9-8 07:23
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