 鲜花( 0)  鸡蛋( 0)
|
Is this guide for you?2 Y9 e4 @) n+ {- x( E
Use this guide if you want information about the rules that
1 D. U- O) _6 D7 V Zapply to the Home Buyers’ Plan (HBP).
! f* T- f: H$ T7 I R8 T* {What is the HBP?
4 N+ @2 p* A& o- n( lThe HBP is a program that allows you to withdraw up
* Y* ~2 L* M3 }# C4 K ~8 b8 Lto $20,000 from your registered retirement savings plans0 B! ?6 U# C$ c! ?9 z' \
(RRSPs) to buy or build a qualifying home. However, the }5 v+ j/ S9 g
program sets out certain conditions for participation. If an0 K0 B/ s$ Y$ `3 z/ I) q6 @: \
individual meets all the applicable HBP conditions, the
6 U' @8 l. x v) ^. Lwithdrawals will not have to be included in his or her
. J6 B6 i, C- D8 J! k3 Pincome, and the RRSP issuer will not withhold tax on these( f k0 I! [4 \% z- M% u' Y
amounts. If you buy a qualifying home with your spouse or4 D& S' a3 E! K/ u1 f' b: [% ]
common-law partner, or with other individuals, each of
* W$ E3 s; y$ F+ kyou can withdraw up to $20,000.' }) m. g( } T' w( F
Under the HBP, you have to repay all withdrawals to your
) ~6 r a- ]) K! xRRSPs within a 15-year period. Generally, you will have to8 `7 O( F% _! k
repay an amount to your RRSPs each year, starting the
/ K8 ]0 e% k9 F$ ssecond year after the funds are withdrawn, until you have
3 C4 [+ `% D" z/ Crepaid the total amount you withdrew. If you do not repay
! X5 N2 _ Q; z; |the amount due for a year, it will have to be included in
, [6 T, }1 b% k) g/ u+ Tyour income for that year. |
|