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Is this guide for you?
! y4 W: p z) t8 G; m Q# W4 A1 G' p. |Use this guide if you want information about the rules that0 ^, x( m3 q' a" L
apply to the Home Buyers’ Plan (HBP).1 H7 f$ e( z0 l7 w0 Y2 ^
What is the HBP?. k) S2 w. g: M
The HBP is a program that allows you to withdraw up) {8 h- k7 N# f; a0 a% K
to $20,000 from your registered retirement savings plans6 P) K! [4 I( P9 h7 s
(RRSPs) to buy or build a qualifying home. However, the3 k8 }' T" F1 B1 o% v
program sets out certain conditions for participation. If an
! ^( C- z$ y) z! }3 H7 Sindividual meets all the applicable HBP conditions, the0 C, @8 S/ i! F
withdrawals will not have to be included in his or her
5 k* L, G8 g6 ?" l! [. @income, and the RRSP issuer will not withhold tax on these, s9 E( U& [1 p/ v1 @
amounts. If you buy a qualifying home with your spouse or X6 ]5 k5 U' v. ^3 X% [/ ~
common-law partner, or with other individuals, each of
* a& e; D, [% ~4 a) D( v$ X7 Pyou can withdraw up to $20,000.# ~+ z/ |6 G( S( a# r4 T$ a( }+ i3 g
Under the HBP, you have to repay all withdrawals to your
8 M) W: j6 C& J' JRRSPs within a 15-year period. Generally, you will have to
; l$ W. w- s- q4 d8 U jrepay an amount to your RRSPs each year, starting the! `5 j1 X9 t5 _8 Y
second year after the funds are withdrawn, until you have
2 |- _, G# Z& W2 I1 _/ irepaid the total amount you withdrew. If you do not repay9 @2 _3 d0 f' O
the amount due for a year, it will have to be included in
# C9 `- x ], O- y" n% ?your income for that year. |
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发表于 2004-9-8 07:23
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