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Is this guide for you?3 r: {2 E, y% B1 z
Use this guide if you want information about the rules that
6 H$ w+ \0 ^4 I a# uapply to the Home Buyers’ Plan (HBP).! Y- l# q$ \7 E3 x
What is the HBP?
m; M" K( w9 x/ N \The HBP is a program that allows you to withdraw up. x* s0 f+ ], V; i/ n; {
to $20,000 from your registered retirement savings plans6 }6 G5 ?. ]' z7 B: r2 g; M
(RRSPs) to buy or build a qualifying home. However, the$ R5 R% o% _- N' N* b! [: C. P
program sets out certain conditions for participation. If an8 Z) u/ `6 U6 Z# } e1 M7 O
individual meets all the applicable HBP conditions, the, v6 B' g3 \: W
withdrawals will not have to be included in his or her) v+ D+ s% f- z2 J
income, and the RRSP issuer will not withhold tax on these4 Q' @1 @) K# Z. S" ?& S7 q
amounts. If you buy a qualifying home with your spouse or
3 |& y# t/ x9 U K* q$ ycommon-law partner, or with other individuals, each of3 _ ~% w7 H% d9 m+ j; u# w
you can withdraw up to $20,000.
& K5 `- ~2 r) U" D [ nUnder the HBP, you have to repay all withdrawals to your: f S) s) K* Y0 b
RRSPs within a 15-year period. Generally, you will have to5 v4 |& C3 ^! n% ~9 j
repay an amount to your RRSPs each year, starting the
+ U$ {8 S, _- [, wsecond year after the funds are withdrawn, until you have( ^/ t4 U% G$ x) _7 n J* I
repaid the total amount you withdrew. If you do not repay
1 r. R {2 z1 F6 fthe amount due for a year, it will have to be included in) [5 `" |8 ^$ v0 W6 f$ }+ G
your income for that year. |
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发表于 2004-9-8 07:23
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