 鲜花( 0)  鸡蛋( 0)
|
Is this guide for you?/ H' ]: H# \# _. ^2 A. L
Use this guide if you want information about the rules that* T+ g# ?; {: I# _
apply to the Home Buyers’ Plan (HBP).0 O% ?: f* n% n! V" g/ K
What is the HBP?, J7 |% I& k7 y# z& H
The HBP is a program that allows you to withdraw up3 W( b8 c% q! {) Y& i
to $20,000 from your registered retirement savings plans
& l( T( m# ]9 I4 I; ]; Z5 [1 O(RRSPs) to buy or build a qualifying home. However, the4 {2 Z' u" u! n4 l
program sets out certain conditions for participation. If an0 J. j [7 S l3 F K
individual meets all the applicable HBP conditions, the
4 a/ G; p& S2 D3 Q* }: Mwithdrawals will not have to be included in his or her+ ~6 j3 M* O3 h8 [. }3 z( W+ @( ~
income, and the RRSP issuer will not withhold tax on these
9 y1 U% P! d* I5 E5 D; mamounts. If you buy a qualifying home with your spouse or& g9 W' j2 Z2 |1 S: \. q7 ^% M s
common-law partner, or with other individuals, each of
; ~& E- i! g, G1 A2 qyou can withdraw up to $20,000.* ]; U/ Q. a( }2 x5 i# l, H" f
Under the HBP, you have to repay all withdrawals to your- s: _' l& m8 H, I1 `1 J( q
RRSPs within a 15-year period. Generally, you will have to* z; ?" s) D0 R ~
repay an amount to your RRSPs each year, starting the2 s/ K( w" f ^2 J0 d0 B4 ~
second year after the funds are withdrawn, until you have" p/ h l3 T. r2 N/ E
repaid the total amount you withdrew. If you do not repay
0 @! ~8 m5 P ]( o5 o' Pthe amount due for a year, it will have to be included in
; R& f: F8 y* y( v/ ]your income for that year. |
|