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Home Ownership Made Easy
289 hits
Feb 07, 2004 4:28 am |
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Canadian Government Incentives for Home Buyers |
Allan Todd - REALTOR®
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Saving for a down payment for a home can be a difficult challenge for first-time home buyers. Fortunately, there are a variety of government programs to help you save the funds for your home purchase.
Your real estate professional can help you understand how these government programs work.
The Government of Canada’s Home Buyers' Plan allows qualified buyers to withdraw a maximum of $20,000 from their RRSPs to purchase or build a house. If your spouse is also eligible, you can each withdraw up to $20,000 towards the down payment, for a total of $40,000.
No income tax is deducted from these funds, as long as they are repaid to the RRSP according to the government's repayment schedule.
For further information, ask your realtor.
Or visit my website at www.allantodd.ca and click on the "Government Incentives" button to down load further information.
Private Reply to Allan Todd - REALTOR® (new win) |
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