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Is this guide for you?. Z; |( ]% @5 T# }: \9 e' |8 @& y
Use this guide if you want information about the rules that- ^4 `* f8 d. C* A) O* |3 L0 }
apply to the Home Buyers’ Plan (HBP).8 ^6 N6 Q$ C9 H1 o
What is the HBP? ]8 Y, D' t) z' Z5 k% G1 G8 b
The HBP is a program that allows you to withdraw up3 Z6 G% _) Z# p" w# R; h
to $20,000 from your registered retirement savings plans2 Q8 B/ {: [4 f+ Q! H
(RRSPs) to buy or build a qualifying home. However, the( e0 C8 K: ^ E" m) d w
program sets out certain conditions for participation. If an3 O$ h# a5 B: Y2 `1 }2 U/ ]
individual meets all the applicable HBP conditions, the, Z8 N% J, ^! |/ s& u& \
withdrawals will not have to be included in his or her5 l$ L' a! B; s9 ~2 k
income, and the RRSP issuer will not withhold tax on these( ^4 {5 { e# q# o. p
amounts. If you buy a qualifying home with your spouse or) V- y; V7 X) X9 q6 m; H" B
common-law partner, or with other individuals, each of+ T% Y$ ~' v G: p& n) G0 K5 {( s ^
you can withdraw up to $20,000.9 p! F! q$ C( f
Under the HBP, you have to repay all withdrawals to your
F+ C' q$ n; k9 u9 HRRSPs within a 15-year period. Generally, you will have to" ]1 f9 l# k8 ]) u6 T* b6 r L$ ]% k
repay an amount to your RRSPs each year, starting the% Z6 w3 }5 s6 U3 D0 v; m
second year after the funds are withdrawn, until you have% v$ u6 w" D% D" a& \2 q
repaid the total amount you withdrew. If you do not repay O5 \! r/ L; ]& b9 h
the amount due for a year, it will have to be included in5 `3 t0 Z! A0 V7 k/ P; H' O
your income for that year. |
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发表于 2004-9-8 07:23
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