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Is this guide for you?
1 o) {" D9 m1 m4 E* e% @Use this guide if you want information about the rules that
, k, |& B1 k. K, z8 `apply to the Home Buyers’ Plan (HBP).+ ^. B- [. c3 u7 \: ]; i
What is the HBP?9 c( c) J+ T! f) Z( g3 a" h1 J
The HBP is a program that allows you to withdraw up
( ?/ ?- u: _2 F# K( }to $20,000 from your registered retirement savings plans
& u" g# o" c) W( o& L(RRSPs) to buy or build a qualifying home. However, the
; I6 U. l; `. F0 `+ j$ `8 wprogram sets out certain conditions for participation. If an) }& [( o$ m; d! e. W; i
individual meets all the applicable HBP conditions, the% K- J# ]7 ^4 K8 p/ S5 J
withdrawals will not have to be included in his or her
% N" Q( a, `9 `" o' R7 kincome, and the RRSP issuer will not withhold tax on these
' X$ `7 V7 X7 z/ mamounts. If you buy a qualifying home with your spouse or; _0 q4 Q3 X$ ? [- A
common-law partner, or with other individuals, each of
9 S6 l+ i; h y: n5 |0 uyou can withdraw up to $20,000.4 n6 `& N7 j6 C% X4 J
Under the HBP, you have to repay all withdrawals to your
$ m. n U+ L* E: v& \0 R$ URRSPs within a 15-year period. Generally, you will have to* G4 i, x6 `) T; V9 _
repay an amount to your RRSPs each year, starting the; M3 Q+ b: i- K6 _; Q) `# A2 ?+ o
second year after the funds are withdrawn, until you have# f" q# K0 L5 l$ O$ L2 H
repaid the total amount you withdrew. If you do not repay
$ \) {( ~7 m& [# W1 q: N2 Ythe amount due for a year, it will have to be included in
8 ^' m0 s& i% wyour income for that year. |
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发表于 2004-9-8 07:23
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