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Is this guide for you?5 M3 c$ A0 X6 k0 Q `5 ^: ?
Use this guide if you want information about the rules that( x6 d1 M8 w( O4 r, Q
apply to the Home Buyers’ Plan (HBP).3 s& W# ?) ~' l' Y! J9 }# b
What is the HBP?
8 R: Y8 p; r L" {4 j+ GThe HBP is a program that allows you to withdraw up
" T. S+ R% P5 h9 R* I3 Y. E/ Xto $20,000 from your registered retirement savings plans C" ~: F: O$ }% S3 y& h
(RRSPs) to buy or build a qualifying home. However, the C; u( ^, _0 ^/ w( l/ J4 l
program sets out certain conditions for participation. If an
7 W0 K1 c7 y$ {0 S: }- |individual meets all the applicable HBP conditions, the* G* z: {- t5 x# w5 u1 b) J+ M" N
withdrawals will not have to be included in his or her
# g! \' {7 v" n" p J8 N' Q8 Aincome, and the RRSP issuer will not withhold tax on these
) [% k" J9 o3 v' `6 H& |4 |' _amounts. If you buy a qualifying home with your spouse or
7 T0 `4 n% K6 `" u. k9 x& ^common-law partner, or with other individuals, each of& W4 K/ |$ G% C, l! y
you can withdraw up to $20,000.
) H& [ E$ S8 bUnder the HBP, you have to repay all withdrawals to your& J. @, H1 k$ o6 {* u7 N
RRSPs within a 15-year period. Generally, you will have to1 j8 {- }3 I7 Q! l/ z! m+ H, M
repay an amount to your RRSPs each year, starting the
$ @4 r6 a1 R; M; u( nsecond year after the funds are withdrawn, until you have. }4 j4 V; m. d& x; z6 N
repaid the total amount you withdrew. If you do not repay
3 l; L4 \7 c) w$ p9 {the amount due for a year, it will have to be included in, C6 Z6 v6 r6 }( T4 Z
your income for that year. |
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发表于 2004-9-8 07:23
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