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Is this guide for you?
, _; B1 n, d2 |2 x9 E7 h- TUse this guide if you want information about the rules that; t- C! f/ v& o. S3 M) {
apply to the Home Buyers’ Plan (HBP).
$ q1 E9 d2 A2 b# j x7 n, f0 p" aWhat is the HBP?- Q' |0 p) Y! m3 \0 D \
The HBP is a program that allows you to withdraw up
8 K( V4 R) W7 I! L1 u' F4 g) m; Sto $20,000 from your registered retirement savings plans" s* P: o) @9 s* P% r& W
(RRSPs) to buy or build a qualifying home. However, the
9 s9 |$ Q; n# Z& K9 sprogram sets out certain conditions for participation. If an
& O5 I' m1 J2 D c/ Sindividual meets all the applicable HBP conditions, the
: |; I7 S# p3 V, D1 G* B9 H! [ h* Bwithdrawals will not have to be included in his or her6 l/ f8 w: a5 L0 a- R
income, and the RRSP issuer will not withhold tax on these
0 O6 b- S8 t. ]$ Vamounts. If you buy a qualifying home with your spouse or) J! g6 V0 R4 A; p* l
common-law partner, or with other individuals, each of
5 j/ S4 U; I$ d( e. k2 R( I1 Lyou can withdraw up to $20,000.
; T% a2 t! o- g7 ]- K# I0 W: S, V! sUnder the HBP, you have to repay all withdrawals to your# b- b& h# W8 \6 j
RRSPs within a 15-year period. Generally, you will have to3 u' g# F! C6 r0 `9 i
repay an amount to your RRSPs each year, starting the" o; [5 [% i) `8 |' A9 q, Q7 P- _
second year after the funds are withdrawn, until you have
1 E% J% g9 |& Drepaid the total amount you withdrew. If you do not repay9 T4 S1 T; L) }3 b! N [
the amount due for a year, it will have to be included in" J( q2 T. N$ g6 L
your income for that year. |
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发表于 2004-9-8 07:23
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