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Is this guide for you?
9 w) }# X0 b! x/ J& O0 g2 _8 BUse this guide if you want information about the rules that* x9 ]" W3 A. R! o; C: J
apply to the Home Buyers’ Plan (HBP).
5 Q- j t4 ~0 K7 mWhat is the HBP?5 y- ], E/ T4 B# {+ h
The HBP is a program that allows you to withdraw up- I. n {" n# |6 M" {
to $20,000 from your registered retirement savings plans
( {5 S$ e4 _& Y# a1 }1 U(RRSPs) to buy or build a qualifying home. However, the
8 e' Q% r+ M4 r* L. k! |0 ?! g( [program sets out certain conditions for participation. If an8 b: K7 H9 f2 \4 @$ ~
individual meets all the applicable HBP conditions, the" M' \/ u8 U, ~2 J# S
withdrawals will not have to be included in his or her
. E6 G2 G8 w6 T4 r- Nincome, and the RRSP issuer will not withhold tax on these7 b3 w: |2 a/ j7 U
amounts. If you buy a qualifying home with your spouse or2 Z# z* w( y# ~$ J6 ~2 l T0 x$ X
common-law partner, or with other individuals, each of
$ B6 ~. d8 N$ j6 Myou can withdraw up to $20,000.- s2 D+ M* e; x# [0 @, S
Under the HBP, you have to repay all withdrawals to your
2 y* s/ U# l4 ? j6 |/ U, U, cRRSPs within a 15-year period. Generally, you will have to4 b& V; F2 T) r7 Z. y
repay an amount to your RRSPs each year, starting the
+ G- D# U O' Y7 T M1 F, vsecond year after the funds are withdrawn, until you have) L+ J q0 y9 h/ A3 M' C
repaid the total amount you withdrew. If you do not repay8 U0 W8 Z, R- ^$ X9 I c, A
the amount due for a year, it will have to be included in) F. [. {* |* u. t& Q% C. x
your income for that year. |
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发表于 2004-9-8 07:23
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