What is the Homebuyers Plan?
• The Home Buyers Plan is a federal government program that allows homebuyers to use $20,000.00 for each purchaser from his/her own RRSP. • You must not have owned a principal residence within the last 5 years. • You must intend to occupy your home as a principal residence. • Minimum repayment is 15 equal annual installments. This schedule can be accelerated. • The funds to be withdrawn must have been invested into the RRSP for a minimum of 90 days prior to withdrawal. • You must complete a Form T1036.
Related Questions
- What if I have limited dental benefits available through my Federal Employee Health Benefit (FEHB) Plan? How does this affect my MetLife dental claims?
- I plan to buy a house next month. Can I put my downpayment into my RRSP, get the tax deduction, then take it out to buy the house?
- Where can I see or buy a copy of the Local Plan?
