Home Buyers’ Plan

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Is this guide for you?
Use this guide if you want information about the rules that
! x  E  b: M& I: q) n2 L2 papply to the Home Buyers’ Plan (HBP).
8 E- @. J  \4 S4 XWhat is the HBP?
The HBP is a program that allows you to withdraw up
4 Z! p! B4 {  \/ Wto $20,000 from your registered retirement savings plans
, P/ C! }( s# M; `) n+ ]: o(RRSPs) to buy or build a qualifying home. However, the
$ W- s/ ^4 B5 R+ i8 dprogram sets out certain conditions for participation. If an
8 N1 F8 W; V* E% R0 {5 G; _individual meets all the applicable HBP conditions, the
withdrawals will not have to be included in his or her
income, and the RRSP issuer will not withhold tax on these
amounts. If you buy a qualifying home with your spouse or
common-law partner, or with other individuals, each of
: b  V* u& a) Dyou can withdraw up to $20,000.
' G; x6 p& F  S! `5 XUnder the HBP, you have to repay all withdrawals to your
) _% L1 A. w& ~( l; q! KRRSPs within a 15-year period. Generally, you will have to
repay an amount to your RRSPs each year, starting the
4 b* i8 p0 M) {- |# D4 Nsecond year after the funds are withdrawn, until you have
repaid the total amount you withdrew. If you do not repay
: E+ I) M/ v' c, U0 t+ J9 Z8 Lthe amount due for a year, it will have to be included in
your income for that year.

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再详细一点就好了。

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