The document provides an overview of the Home Buyers' Plan (HBP) which allows eligible individuals to withdraw up to $20,000 from their registered retirement savings plans to purchase or construct a qualifying home. Key conditions for participating in the HBP include entering into an agreement to buy or build a home, intending to occupy the home as your principal residence, and repaying withdrawals within 15 years. The document outlines the eligibility rules and repayment requirements in detail.
With millions of US households personally directing their retirement savings, the Investment
Company Institute (ICI) has sought to track retirement savers’ actions1 and sentiment.
This report, the 10th in this series, summarizes results from a survey of American adults,
weighted to be representative of US households by age, income, region, and education level.
The survey was designed by ICI research staff and administered by the GfK Group using the
KnowledgePanel®, a proprietary, probability-based web panel.2 This report presents survey
results that reflect households’ responses collected during December 2017.3
The survey polled respondents about their views on defined contribution (DC) retirement
account saving and their confidence in 401(k) and other DC plan accounts. Survey responses
indicated that households value the discipline and investment opportunity that 401(k) plans
represent and that households were largely opposed to changing the tax preferences or
investment control in those accounts. A majority of households also affirmed a preference for
control of their retirement accounts and opposed proposals to require retirement accounts to be
converted into a fair contract promising them income for life from either the government or an
insurance company
This document provides information about payout annuities. Payout annuities allow individuals to convert savings into a guaranteed stream of retirement income. There are various types of annuities that offer lifetime payments, joint lifetime payments, or guaranteed payments for a set period. The payments can be customized in terms of amount, frequency, inflation protection, and beneficiary benefits. The document also outlines the tax treatment of annuity payments and death benefits. Payout annuities can provide individuals with secure retirement income and protection against market risks.
The document is a notice for the annual meeting of shareholders of Prudential Financial, Inc. to be held on May 8, 2007 at 2:00 pm at Prudential Financial's Corporate Headquarters in Newark, NJ. Shareholders will vote on two items of business - the election of 12 directors and the ratification of the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm. Shareholders of record as of March 9, 2007 are entitled to vote. Instructions are provided for shareholders on how to vote, including by proxy, internet, telephone, or in person with proof of ownership and identification.
This document is a financial supplement providing quarterly financial results for Genworth Financial, Inc. for the fourth quarter of 2007. It includes sections on net income, net operating income by business segment, consolidated and segment balance sheets, investment portfolio details, and reconciliations of non-GAAP measures. The supplement provides detailed performance metrics for Genworth's business segments to allow for analysis of results.
This document is a financial supplement providing quarterly financial results for Genworth Financial, Inc. for 3Q 2008. It includes sections on net income, net operating income by business segment, balance sheets, investment portfolio details, and non-GAAP financial measures reconciliations. New metrics were added this quarter to provide more transparency into financial trends for the International and U.S. Mortgage Insurance segments.
The document is a notice from Prudential Financial, Inc. inviting shareholders to attend their Annual Meeting of Shareholders on May 13, 2008 at 2:00 pm at Prudential's headquarters in Newark, New Jersey. The notice provides information on the matters to be voted on which include the election of 13 directors and ratification of the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm. Shareholders are urged to vote promptly via telephone, internet or mail.
This document is a proxy statement and notice of annual meeting from Baxter International Inc. to its stockholders. It informs stockholders that the 2003 Annual Meeting of Stockholders will be held on May 6, 2003 at the Drury Lane Theatre in Oakbrook Terrace, Illinois. The purpose of the meeting is to elect three directors, ratify the appointment of the independent accountants, approve the 2003 Incentive Compensation Program, and consider a stockholder proposal regarding cumulative voting. Stockholders are encouraged to vote by proxy in advance of the meeting.
This letter summarizes a document that is a notice for Baxter International Inc.'s 2002 Annual Meeting of Stockholders. The meeting will be held on May 7, 2002 at the Drury Lane Theatre in Oakbrook Terrace, Illinois. The meeting will begin at 10:30am and registration will start at 9:00am. Stockholders will vote on electing four directors, ratifying the appointment of the independent accountants, approving an increase in authorized shares of common stock, approving Baxter's Officer Incentive Compensation Plan, and a stockholder proposal regarding cumulative voting. Stockholders are encouraged to vote by proxy even if planning to attend.
With millions of US households personally directing their retirement savings, the Investment
Company Institute (ICI) has sought to track retirement savers’ actions1 and sentiment.
This report, the 10th in this series, summarizes results from a survey of American adults,
weighted to be representative of US households by age, income, region, and education level.
The survey was designed by ICI research staff and administered by the GfK Group using the
KnowledgePanel®, a proprietary, probability-based web panel.2 This report presents survey
results that reflect households’ responses collected during December 2017.3
The survey polled respondents about their views on defined contribution (DC) retirement
account saving and their confidence in 401(k) and other DC plan accounts. Survey responses
indicated that households value the discipline and investment opportunity that 401(k) plans
represent and that households were largely opposed to changing the tax preferences or
investment control in those accounts. A majority of households also affirmed a preference for
control of their retirement accounts and opposed proposals to require retirement accounts to be
converted into a fair contract promising them income for life from either the government or an
insurance company
This document provides information about payout annuities. Payout annuities allow individuals to convert savings into a guaranteed stream of retirement income. There are various types of annuities that offer lifetime payments, joint lifetime payments, or guaranteed payments for a set period. The payments can be customized in terms of amount, frequency, inflation protection, and beneficiary benefits. The document also outlines the tax treatment of annuity payments and death benefits. Payout annuities can provide individuals with secure retirement income and protection against market risks.
The document is a notice for the annual meeting of shareholders of Prudential Financial, Inc. to be held on May 8, 2007 at 2:00 pm at Prudential Financial's Corporate Headquarters in Newark, NJ. Shareholders will vote on two items of business - the election of 12 directors and the ratification of the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm. Shareholders of record as of March 9, 2007 are entitled to vote. Instructions are provided for shareholders on how to vote, including by proxy, internet, telephone, or in person with proof of ownership and identification.
This document is a financial supplement providing quarterly financial results for Genworth Financial, Inc. for the fourth quarter of 2007. It includes sections on net income, net operating income by business segment, consolidated and segment balance sheets, investment portfolio details, and reconciliations of non-GAAP measures. The supplement provides detailed performance metrics for Genworth's business segments to allow for analysis of results.
This document is a financial supplement providing quarterly financial results for Genworth Financial, Inc. for 3Q 2008. It includes sections on net income, net operating income by business segment, balance sheets, investment portfolio details, and non-GAAP financial measures reconciliations. New metrics were added this quarter to provide more transparency into financial trends for the International and U.S. Mortgage Insurance segments.
The document is a notice from Prudential Financial, Inc. inviting shareholders to attend their Annual Meeting of Shareholders on May 13, 2008 at 2:00 pm at Prudential's headquarters in Newark, New Jersey. The notice provides information on the matters to be voted on which include the election of 13 directors and ratification of the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm. Shareholders are urged to vote promptly via telephone, internet or mail.
This document is a proxy statement and notice of annual meeting from Baxter International Inc. to its stockholders. It informs stockholders that the 2003 Annual Meeting of Stockholders will be held on May 6, 2003 at the Drury Lane Theatre in Oakbrook Terrace, Illinois. The purpose of the meeting is to elect three directors, ratify the appointment of the independent accountants, approve the 2003 Incentive Compensation Program, and consider a stockholder proposal regarding cumulative voting. Stockholders are encouraged to vote by proxy in advance of the meeting.
This letter summarizes a document that is a notice for Baxter International Inc.'s 2002 Annual Meeting of Stockholders. The meeting will be held on May 7, 2002 at the Drury Lane Theatre in Oakbrook Terrace, Illinois. The meeting will begin at 10:30am and registration will start at 9:00am. Stockholders will vote on electing four directors, ratifying the appointment of the independent accountants, approving an increase in authorized shares of common stock, approving Baxter's Officer Incentive Compensation Plan, and a stockholder proposal regarding cumulative voting. Stockholders are encouraged to vote by proxy even if planning to attend.
The document describes Sempra Energy's Direct Stock Purchase Plan, which allows existing and new investors to purchase shares of Sempra Energy's common stock. The plan offers a convenient way to purchase shares and reinvest dividends. It allows participants to make optional cash investments towards purchasing shares. The plan also offers safekeeping of existing stock certificates and ability to sell shares.
This document is a financial supplement providing quarterly financial results for Genworth Financial, Inc. for the second quarter of 2007. It includes sections on net income, net operating income by business segment, balance sheets, investment portfolio details, and non-GAAP financial reconciliations. The supplement aims to provide transparency into financial trends through new disclosures on metrics like U.S. mortgage insurance growth, losses, and portfolio quality as well as regional sales data for payment protection insurance.
U.S. Election Cliffhangers - BlackRock Investment Institutedtresemer
Financial markets can only focus on one scary thing at a time. The European debt crisis has been the shark closest to the boat for years. Now the US fiscal cliff - a perfect storm of tax hikes and spending cuts that may go into effect Jan. 1 - is moveing to the fore.
This document is the proxy statement for Lowe's Companies, Inc.'s 2007 Annual Meeting of Shareholders. It provides notice of the meeting date, time, location, and agenda items to be voted on. There are eight items on the agenda: 1) electing four Class III directors, 2) approving an amendment to increase shares authorized under the Employee Stock Purchase Plan, 3) ratifying the appointment of Deloitte & Touche LLP as the independent accountants, and 4-8) considering five shareholder proposals. The proxy statement provides information about the director nominees, the board of directors and its committees, executive compensation, shareholder voting procedures, and the shareholder proposals.
This document is Agilent Technologies' notice of its 2005 annual meeting of stockholders, which includes the proxy statement and annual report. The annual meeting will be held on March 1, 2005 to elect directors, ratify the appointment of PricewaterhouseCoopers LLP as the independent auditor, and approve amendments to Agilent's performance-based compensation plan for employees. Stockholders as of January 3, 2005 are entitled to vote. Admission to the annual meeting requires an admission ticket and photo ID.
The document announces the WPS Resources Corporation annual meeting of shareholders to be held on May 18, 2006. Shareholders will be asked to vote on three items: 1) electing three directors to three-year terms, 2) ratifying the selection of Deloitte & Touche LLP as the independent registered public accounting firm for 2006, and 3) any other business properly brought before the meeting. Shareholders as of March 23, 2006 are entitled to vote. Voting may be done over the internet, by phone, by mail, or in person at the meeting.
- The document is a proxy statement from Anheuser-Busch Companies, Inc. inviting shareholders to attend the company's Annual Meeting on April 25, 2007 in Orlando, Florida to vote on various agenda items.
- Shareholders will vote on electing six directors, approving new equity and employee stock plans, appointing an accounting firm, and a shareholder proposal regarding charitable contributions reporting. The board recommends voting for all management proposals and against the shareholder proposal.
- The proxy statement provides details on the voting process and recommendations, meeting logistics, director biographies and compensation, and other business to be conducted at the annual meeting.
Alexander Company had $1.2 million in notes payable as of December 31, 2012. $900,000 of the notes were refinanced on their due date of February 2, 2013 through the issuance of common stock. The remaining $300,000 was paid using current assets. The $900,000 amount is presented as long-term debt since it was refinanced, while the $300,000 is shown as a current liability since it was paid shortly after the balance sheet date.
This proxy statement provides information to shareholders of ConAgra Foods ahead of the company's Annual Meeting of Shareholders on September 27, 2007. The meeting will cover the election of directors, ratification of the appointment of the independent auditor for fiscal year 2008, and a shareholder proposal regarding controlled atmosphere killing. Shareholders are being asked to vote by proxy on these matters by mail, phone or internet prior to the meeting.
The document provides notice of Best Buy Co., Inc.'s 2005 Regular Meeting of Shareholders to be held on June 23, 2005 at 9:30 am at Best Buy's corporate campus theater in Richfield, Minnesota. The meeting will address three items of business: 1) electing six Class 2 directors to serve two-year terms, 2) ratifying the appointment of Deloitte & Touche LLP as the company's independent registered public accounting firm for the current fiscal year, and 3) any other business as may properly come before the meeting. Shareholders as of the close of business on April 25, 2005 are eligible to vote.
The document is the proxy statement for L-3 Communications Holdings, Inc.'s 2007 Annual Meeting of Stockholders. It provides information on the meeting such as the date, time, and location. It invites stockholders to attend and notifies them that proposals up for vote include the election of directors and ratification of the independent accounting firm. The proxy statement also provides details on director nominations, executive compensation, audit committee matters, and other standard annual meeting business. Stockholders are encouraged to vote by proxy.
Narrowed Horizons: the fiscal choices at Spending Review 2013 and beyondResolutionFoundation
The government's plans for deficit reduction have increasingly stark implications for public spending as their deadline draws nearer. The Resolution Foundations senior economist Matthew Whittaker explains the implications of current spending commitments and forecasts to the next election and beyond.
Closer to the Edge? Prospects for household debt repayments as interest rates...ResolutionFoundation
The number of families in Britain with perilous levels of debt repayments could more than double to 1.2 million if interest rates rise faster than expected in the next four years and household income growth is weak and uneven. In this extended version (no commentary) the Resolution Foundation's senior economist, Matthew Whittaker, sets out the first full analysis of how rising interest rates could affect families under different scenarios for the recovery in household incomes. A shorter version of these slides (with commentary is available at http://www.slideshare.net/ResolutionFoundation/closer-to-the-edge
1) The document is Archer Daniels Midland Company's 2006 Annual Report.
2) It discusses the retirement of G. Allen Andreas as CEO and Chairman of the Board after over 30 years of service, during which he led global expansion and improvements in governance.
3) Under his leadership, ADM transitioned from a focus on U.S. processing to a more global business model, establishing leadership positions in important international markets.
The banking sector in Botswana has evolved significantly over time. Historically, it was dominated by Barclays and Standard Chartered banks. In the 1980s, reforms aimed to encourage competition by liberalizing bank licensing and introducing market-based monetary policy. This led to the entry of several new banks in the early 1990s, doubling the number of commercial banks. Meanwhile, several government-owned financial institutions played an important role in development lending. Overall, reforms have increased competition and efficiency in the banking sector.
Traditionally, the pension systems of most Western European countries were textbook examples for the dominance of public pay-as-you-go pensions. This has changed.
- Total home sales in the Greater Toronto Area (GTA) declined slightly in July 2012 compared to July 2011, with a 1.5% decrease. This was attributed to a decline in condominium sales in Toronto.
- The average home selling price in the GTA rose 4% year-over-year to $476,947 in July 2012. However, the MLS Home Price Index, which allows for an apples-to-apples price comparison, increased by a higher 7.1% over the same period.
- A TREB analyst said that with more housing supply in recent months, buyers had more options, reducing upward pressure on home prices in July compared to previous years.
The document provides examples of how common products and services will be taxed under Ontario's new Harmonized Sales Tax (HST), comparing the previous Goods and Services Tax (GST) and Retail Sales Tax (RST) rates. For many items like clothing, prepared food, and vehicle repairs, the tax rate will remain unchanged at 13%. However, some services like electricity, internet access, and massages will see the tax rate increase to 13% with the introduction of the HST. The tax changes are part of a comprehensive tax package that provides $11.8 billion in tax relief to Ontario residents over three years.
- Home sales and average prices increased year-over-year in January 2012 across the Greater Toronto Area (GTA) for all major home types (detached, semi-detached, townhouse, condo). Detached homes saw the largest gains.
- Low mortgage rates and affordable housing have kept buyer demand strong, though limited inventory has also pushed prices up sharply over the past year. A better-supplied market is expected to moderate price growth in the second half of 2012.
- The average selling price in the GTA in January 2012 was $463,534, an increase of almost 9% from January 2011. Strong competition between buyers has supported robust price appreciation.
- The Toronto real estate market started 2013 with a slight decline in home sales compared to the previous year, but the rate of decline was much lower than in the second half of 2012, suggesting buyers are becoming active again.
- Detached homes in 416 saw a 2.7% increase in average price from the previous January, while 905 detached homes saw a 6.8% increase. Overall average home prices rose 4.3% year-over-year.
- The TREB president expects continued annual price growth in the 3-5% range for 2013, with enough buyer competition to support price increases.
Sales, new listings, and average home prices in the Greater Toronto Area increased substantially in May 2012 compared to the previous year. Sales grew 11% overall with the strongest growth in regions surrounding Toronto. New listings also rose more than 20%. The average home price increased 6.5% to $516,787. While price growth for low-rise homes was strong, the real estate board representative noted that if new listings continue to increase, annual price growth will likely moderate.
- While home sales in Toronto were down in August, average home prices rose 6.5% year-over-year to $479,095, driven by a 15% increase in prices of low-rise homes like detached houses in the city.
- Market conditions remained tight with high demand and few listings, suggesting price growth will continue.
- Stricter mortgage rules, higher prices, and the Toronto land transfer tax were factors in the sales decrease.
The document describes Sempra Energy's Direct Stock Purchase Plan, which allows existing and new investors to purchase shares of Sempra Energy's common stock. The plan offers a convenient way to purchase shares and reinvest dividends. It allows participants to make optional cash investments towards purchasing shares. The plan also offers safekeeping of existing stock certificates and ability to sell shares.
This document is a financial supplement providing quarterly financial results for Genworth Financial, Inc. for the second quarter of 2007. It includes sections on net income, net operating income by business segment, balance sheets, investment portfolio details, and non-GAAP financial reconciliations. The supplement aims to provide transparency into financial trends through new disclosures on metrics like U.S. mortgage insurance growth, losses, and portfolio quality as well as regional sales data for payment protection insurance.
U.S. Election Cliffhangers - BlackRock Investment Institutedtresemer
Financial markets can only focus on one scary thing at a time. The European debt crisis has been the shark closest to the boat for years. Now the US fiscal cliff - a perfect storm of tax hikes and spending cuts that may go into effect Jan. 1 - is moveing to the fore.
This document is the proxy statement for Lowe's Companies, Inc.'s 2007 Annual Meeting of Shareholders. It provides notice of the meeting date, time, location, and agenda items to be voted on. There are eight items on the agenda: 1) electing four Class III directors, 2) approving an amendment to increase shares authorized under the Employee Stock Purchase Plan, 3) ratifying the appointment of Deloitte & Touche LLP as the independent accountants, and 4-8) considering five shareholder proposals. The proxy statement provides information about the director nominees, the board of directors and its committees, executive compensation, shareholder voting procedures, and the shareholder proposals.
This document is Agilent Technologies' notice of its 2005 annual meeting of stockholders, which includes the proxy statement and annual report. The annual meeting will be held on March 1, 2005 to elect directors, ratify the appointment of PricewaterhouseCoopers LLP as the independent auditor, and approve amendments to Agilent's performance-based compensation plan for employees. Stockholders as of January 3, 2005 are entitled to vote. Admission to the annual meeting requires an admission ticket and photo ID.
The document announces the WPS Resources Corporation annual meeting of shareholders to be held on May 18, 2006. Shareholders will be asked to vote on three items: 1) electing three directors to three-year terms, 2) ratifying the selection of Deloitte & Touche LLP as the independent registered public accounting firm for 2006, and 3) any other business properly brought before the meeting. Shareholders as of March 23, 2006 are entitled to vote. Voting may be done over the internet, by phone, by mail, or in person at the meeting.
- The document is a proxy statement from Anheuser-Busch Companies, Inc. inviting shareholders to attend the company's Annual Meeting on April 25, 2007 in Orlando, Florida to vote on various agenda items.
- Shareholders will vote on electing six directors, approving new equity and employee stock plans, appointing an accounting firm, and a shareholder proposal regarding charitable contributions reporting. The board recommends voting for all management proposals and against the shareholder proposal.
- The proxy statement provides details on the voting process and recommendations, meeting logistics, director biographies and compensation, and other business to be conducted at the annual meeting.
Alexander Company had $1.2 million in notes payable as of December 31, 2012. $900,000 of the notes were refinanced on their due date of February 2, 2013 through the issuance of common stock. The remaining $300,000 was paid using current assets. The $900,000 amount is presented as long-term debt since it was refinanced, while the $300,000 is shown as a current liability since it was paid shortly after the balance sheet date.
This proxy statement provides information to shareholders of ConAgra Foods ahead of the company's Annual Meeting of Shareholders on September 27, 2007. The meeting will cover the election of directors, ratification of the appointment of the independent auditor for fiscal year 2008, and a shareholder proposal regarding controlled atmosphere killing. Shareholders are being asked to vote by proxy on these matters by mail, phone or internet prior to the meeting.
The document provides notice of Best Buy Co., Inc.'s 2005 Regular Meeting of Shareholders to be held on June 23, 2005 at 9:30 am at Best Buy's corporate campus theater in Richfield, Minnesota. The meeting will address three items of business: 1) electing six Class 2 directors to serve two-year terms, 2) ratifying the appointment of Deloitte & Touche LLP as the company's independent registered public accounting firm for the current fiscal year, and 3) any other business as may properly come before the meeting. Shareholders as of the close of business on April 25, 2005 are eligible to vote.
The document is the proxy statement for L-3 Communications Holdings, Inc.'s 2007 Annual Meeting of Stockholders. It provides information on the meeting such as the date, time, and location. It invites stockholders to attend and notifies them that proposals up for vote include the election of directors and ratification of the independent accounting firm. The proxy statement also provides details on director nominations, executive compensation, audit committee matters, and other standard annual meeting business. Stockholders are encouraged to vote by proxy.
Narrowed Horizons: the fiscal choices at Spending Review 2013 and beyondResolutionFoundation
The government's plans for deficit reduction have increasingly stark implications for public spending as their deadline draws nearer. The Resolution Foundations senior economist Matthew Whittaker explains the implications of current spending commitments and forecasts to the next election and beyond.
Closer to the Edge? Prospects for household debt repayments as interest rates...ResolutionFoundation
The number of families in Britain with perilous levels of debt repayments could more than double to 1.2 million if interest rates rise faster than expected in the next four years and household income growth is weak and uneven. In this extended version (no commentary) the Resolution Foundation's senior economist, Matthew Whittaker, sets out the first full analysis of how rising interest rates could affect families under different scenarios for the recovery in household incomes. A shorter version of these slides (with commentary is available at http://www.slideshare.net/ResolutionFoundation/closer-to-the-edge
1) The document is Archer Daniels Midland Company's 2006 Annual Report.
2) It discusses the retirement of G. Allen Andreas as CEO and Chairman of the Board after over 30 years of service, during which he led global expansion and improvements in governance.
3) Under his leadership, ADM transitioned from a focus on U.S. processing to a more global business model, establishing leadership positions in important international markets.
The banking sector in Botswana has evolved significantly over time. Historically, it was dominated by Barclays and Standard Chartered banks. In the 1980s, reforms aimed to encourage competition by liberalizing bank licensing and introducing market-based monetary policy. This led to the entry of several new banks in the early 1990s, doubling the number of commercial banks. Meanwhile, several government-owned financial institutions played an important role in development lending. Overall, reforms have increased competition and efficiency in the banking sector.
Traditionally, the pension systems of most Western European countries were textbook examples for the dominance of public pay-as-you-go pensions. This has changed.
- Total home sales in the Greater Toronto Area (GTA) declined slightly in July 2012 compared to July 2011, with a 1.5% decrease. This was attributed to a decline in condominium sales in Toronto.
- The average home selling price in the GTA rose 4% year-over-year to $476,947 in July 2012. However, the MLS Home Price Index, which allows for an apples-to-apples price comparison, increased by a higher 7.1% over the same period.
- A TREB analyst said that with more housing supply in recent months, buyers had more options, reducing upward pressure on home prices in July compared to previous years.
The document provides examples of how common products and services will be taxed under Ontario's new Harmonized Sales Tax (HST), comparing the previous Goods and Services Tax (GST) and Retail Sales Tax (RST) rates. For many items like clothing, prepared food, and vehicle repairs, the tax rate will remain unchanged at 13%. However, some services like electricity, internet access, and massages will see the tax rate increase to 13% with the introduction of the HST. The tax changes are part of a comprehensive tax package that provides $11.8 billion in tax relief to Ontario residents over three years.
- Home sales and average prices increased year-over-year in January 2012 across the Greater Toronto Area (GTA) for all major home types (detached, semi-detached, townhouse, condo). Detached homes saw the largest gains.
- Low mortgage rates and affordable housing have kept buyer demand strong, though limited inventory has also pushed prices up sharply over the past year. A better-supplied market is expected to moderate price growth in the second half of 2012.
- The average selling price in the GTA in January 2012 was $463,534, an increase of almost 9% from January 2011. Strong competition between buyers has supported robust price appreciation.
- The Toronto real estate market started 2013 with a slight decline in home sales compared to the previous year, but the rate of decline was much lower than in the second half of 2012, suggesting buyers are becoming active again.
- Detached homes in 416 saw a 2.7% increase in average price from the previous January, while 905 detached homes saw a 6.8% increase. Overall average home prices rose 4.3% year-over-year.
- The TREB president expects continued annual price growth in the 3-5% range for 2013, with enough buyer competition to support price increases.
Sales, new listings, and average home prices in the Greater Toronto Area increased substantially in May 2012 compared to the previous year. Sales grew 11% overall with the strongest growth in regions surrounding Toronto. New listings also rose more than 20%. The average home price increased 6.5% to $516,787. While price growth for low-rise homes was strong, the real estate board representative noted that if new listings continue to increase, annual price growth will likely moderate.
- While home sales in Toronto were down in August, average home prices rose 6.5% year-over-year to $479,095, driven by a 15% increase in prices of low-rise homes like detached houses in the city.
- Market conditions remained tight with high demand and few listings, suggesting price growth will continue.
- Stricter mortgage rules, higher prices, and the Toronto land transfer tax were factors in the sales decrease.
The document summarizes real estate market conditions in the Greater Toronto area in May 2011. It reports that home sales increased 6% compared to May 2010, making it the second best May on record. The average home price rose 9% to $485,520. A shortage of new listings contributed to a tightening of the market and stronger price growth. The robust price increases may eventually prompt more home owners to list their properties, balancing out the market later in the year. The newsletter provides this information along with advertisements for local real estate agents Melanie and Fabio Recine.
This document provides instructions for Oregon's 2005 personal income tax forms 40S and 40. It outlines what income is taxed by Oregon, residency requirements, filing statuses, and which form taxpayers should use. It also lists how Oregon income tax revenue is allocated, with the largest portions going to education (55%) and human services (23%). The document provides line-by-line instructions for completing the forms and calculating additions, subtractions, deductions, credits and taxes owed.
This document provides instructions for Oregon's 2005 personal income tax forms 40S and 40. It outlines what income is taxed by Oregon, residency requirements, filing statuses, and which form taxpayers should use. It also lists how Oregon income tax revenue is allocated, with the largest portions going to education (55%) and human services (23%). The document provides line-by-line instructions for completing forms 40S and 40.
The document contains terms and conditions for Rural Bank accounts and payment products, including cheques, automatic payments, internet and phone banking. It applies to the Rural Bank Seasonal Account and Rural Bank AgriManager Account. The terms consist of this document and the Rural Bank Schedule of Fees and Charges booklet. Additional terms may also apply if a credit facility is attached to the accounts. Customers should read all documents carefully before opening an account.
This document provides a guide to basic financial education. It covers topics such as making a budget, banking, building credit, saving, and retirement planning. The goal is to provide general information to help readers better manage their money and work towards their financial goals.
Kim Soderberg and Gibraltar Mortgage share first time homebuyer's tips and a guide to obtaining your first home. Step by step overview of the homebuying process.
This document provides guidance for Mi'kmaq in Nova Scotia on writing wills. It explains that a will allows a person to dictate how their property will be distributed after death. The guide outlines the basic requirements for a valid will under the Indian Act and provides information on naming executors, dividing assets, providing for dependents, and storing and updating wills. It also discusses alternatives to writing your own will, such as hiring a lawyer. The intended audience is Status Indians living on reserve lands in Nova Scotia.
This British Columbia Ministry of Economic Development publication, co-produced by Fraser Milner Casgrain LLP (FMC), provides a general overview of the principal laws, regulations and other considerations that would be of interest to non-Canadian companies and entrepreneurs wishing to establish or acquire a business in British Columbia.
This document is a publication from the Internal Revenue Service that provides information about Individual Retirement Arrangements (IRAs). It discusses rules and limits for traditional IRAs and Roth IRAs, including who is eligible to contribute, contribution limits, deductibility of contributions, required minimum distributions, taxation of distributions, and penalties. The publication also addresses Savings Incentive Match Plans for Employees (SIMPLE) and the Retirement Savings Contributions Credit (Saver's Credit). Key changes for 2013 and 2014 are highlighted.
This document is an IRS publication that provides guidance on tax rules related to selling a main home. It discusses how to calculate gain or loss on a home sale and how to determine if gain can be excluded from income up to $250,000 for single filers or $500,000 for joint filers. It also covers topics like ownership and use tests to qualify for the exclusion, how to report home sales on a tax return, and special situations around business use, mortgage subsidies, and taxes. Worksheets are provided at the end to help calculate adjusted basis, gain/loss, exclusion amount and taxable gain.
1
june 30 ,2015
Group 4
Project Status Report
To: Dr. Bingbing Li
From: Sulaiman alarifi , khalid Alkatheeri , Ali Alsaggaf, Almalki,Abdulaziz Ahmed , Abdullah Bafarat
Date: June 30, 2015
Subject: Project II remodeling manufacturing workshop of the Department of MSEM at CSUN
Project Overview
The focus of the project is the plan of reorganizing and remodeling of the manufacturing workshop of the Department of MSEM at CSUN(JD-1128). Our main tasks are developing a new comprehensive remodeling plan and design a new efficient convenient floor layout where the full area of is accessible from the main entrance as well as the back door. The following bullet points are summarizing the workflow of planning and layout design.
Work Completed
Dilemmas at the workshop are space utilization efficiency, overcrowded equipment and infrequently used tools taking space. The proposed solution is relocating the machines in a way to maximize space efficiency, tools turnover where big machines can be replaced with smaller one and deliver same quality of work, and relocating and resizing storage area. In addition, a safe walk path is needed for customers to move from workstation to another or move product with the workshop.
The data we have collected are workshop back ground, workshop area and tools dimensions. Full data is appended.
gantt chart
Data collecetion :
Machine list and dimansions
Machine
Width (inch)
Length (inch)
1- Wilton- Sand paper machine
1 ft
1 ft
2- 508 vs Drilling machine (Model 9512484)
1ft
1.5ft
3- Acer E-Lathe 1440v
2.7ft
1 ft
4- DAKE V-24(Model v-24)
1ft
2ft
5- NEF 320 Gildemeister
4ft
2-5ft
6- VF3 HAAS
6ft
3ft
7- Computer Table area
8- The Morgan-Press
0.5ft
0.6
9- Hypred layer manufacturing 3D printer
1ft
1ft
10- Lincoln Electric
3.6ft
1.3ft
11- Millermatic 350P
0.5ft
1ft
12- Inductronix power pulse
1ft
0.7ft
13- HAAS Mill operators
4ft
3ft
14- CMM Machine- Bright-M mitutoyo
3ft
2ft
15- Thermoset 3D printer
3 ft
1.2 ft
16- Dimension SST 1200 3D Printer
1ft
1.3 ft
17- Maker Boot Replicator 3D Printer
1 ft
1 ft
18- Cube X DUO 3D Printer
1 ft
1ft
19- Ryobi thin line bench grinder
1ft
1.3ft
20- Syncowave 180 sd
0.5ft
1.5ft
21- E-mill
3ft
2.1ft
22- Quill position control
23- Bal dou
1ft
0.5ft
Work in Progress
Currently we are reviewing the feasibility of our proposed solution and coordinating personal interviews with Roger and workshop customers. In addition, we are reviewing class material to find a quantitative representation of proposed solution and prospect ideas.
Works to Be Completed in Next One Months
There are paramount tasks and milestone need to be done and finalized before the due date. The first one is creating the outline for the final report and auditing the outline against the grading guide line. Write the first draft of the report and review with team. Second task is expanding and detailing the current project plan and objectives. Third task is evaluating the new method versus the cur.
This document provides guidance on creating a budget to take control of one's finances. It recommends making a list of regular monthly expenses like housing, car payments, and credit cards to understand how much money needs to be budgeted each month. Key steps include determining average monthly income, deducting taxes and insurance, and accounting for primary expenses like housing, transportation, and credit cards. Creating a budget provides honesty about spending and helps ensure one has enough money for bills while also saving for goals.
This document is a financial supplement from Genworth Financial for the fourth quarter of 2006. It includes sections on financial highlights, results by business segment, investments, and other financial data. Some key details include:
- Total stockholders' equity was $13.3 billion as of December 31, 2006. Book value per common share was $30.09.
- Return on equity was 11.1% for 2006 on a GAAP basis and 11.0% on an operating basis.
- Net income and various performance metrics are provided by segment, including Retirement and Protection, International, and U.S. Mortgage Insurance.
- Additional data on investments, deferred acquisition costs, and non-GA
This document is a financial supplement from Genworth Financial for the fourth quarter of 2006. It includes sections on financial highlights, results by business segment, investments, and other financial data. Some key details include:
- Total stockholders' equity was $13.3 billion as of December 31, 2006. Book value per common share was $30.09.
- Return on equity was 11.1% for 2006 on a GAAP basis and 11.0% on an operating basis.
- Net income and various performance metrics are provided by segment, including Retirement and Protection, International, and U.S. Mortgage Insurance.
- Additional data on investments, deferred acquisition costs, and non-GA
This document provides an overview of ThinkTEAM personal financial planning firm. It includes an introduction to the firm, its mission and values. It then details the contents of a financial plan created for clients Mr. and Mrs. Sanchez, outlining their current financial situation including assets, liabilities, income/expenses and recommendations around refinancing a mortgage, insurance and investments. Key documents included are an engagement letter, statements of financial position and income/expenses, explanations of financial ratios and important considerations for document storage.
It works canada compensation plan it works canada distributorM. Reyn
The document provides details on the compensation plan for IW Marketing International Canada ULC. A typical participant in the plan earns between $45 and $995 CAD annually from commissions for arranging product sales. The primary way to earn income is by building a team of distributors and loyal customers. Distributors earn commissions on their own sales and the sales of their downline at different percentage rates depending on the rank achieved within the compensation plan structure.
The document is a New Hampshire Department of Revenue Administration form for reporting meals and rentals tax. It provides lines to report taxable receipts from meals, beverages, room rentals, and vehicle rentals. It also provides lines to report deductions, additions like interest and penalties, and calculate the total amount due. The form must be signed under penalty of perjury and submitted to the New Hampshire DRA by the 15th of the month following the tax period.
This document is an IRS compliance guide for 501(c)(3) tax-exempt organizations. It discusses the importance of record keeping for these organizations and outlines the key records that should be maintained, including those related to income, expenses, assets, and employment taxes. It recommends keeping records for at least 3 years after a tax return is filed. The guide also reviews the main federal tax forms and returns that 501(c)(3) organizations are required to file each year, such as Form 990 and related schedules.
This document provides information for students enrolling in a higher education course as a Commonwealth supported student. It explains key terms like census date and administrative date, eligibility requirements for Commonwealth supported places, how to accept such a place, student contribution amounts, and options for paying contributions using HECS-HELP loans. The document aims to help students understand the Commonwealth support system and their responsibilities.
Homestead Property Tax Credit Claim for Veterans and Blind People Instruction...taxman taxman
1) This document provides instructions for completing the 2008 Michigan Homestead Property Tax Credit Claim for Veterans and Blind People (MI-1040CR-2) form. 2) It outlines who is eligible to claim the credit based on income and homestead ownership criteria. Household income cannot exceed $7,500 for some military personnel and $82,650 for others. 3) The document provides guidance on calculating household income and which property taxes can be claimed for the credit.
Despite some rain, the Toronto real estate market saw positive results in April with an increase in both sales and average selling price compared to the previous year. While sales dipped slightly, the average home price rose 2% to $526,335. The condominium apartment segment was a key driver of price growth. Real estate agents anticipate continued strengthening of demand for homeownership over the rest of the year as buyers who delayed purchases are now returning to the market. Strategies like pre-screening buyers help agents bring only qualified prospects to sellers.
Prices for all home types continued to rise in March 2013 compared to the previous year according to the Toronto Real Estate Board. While sales volumes decreased year-over-year for all home types, average prices increased between 1.7-5.4% depending on the type. Detached homes saw the largest price increase of 4% to $658,118. The president of TREB noted that demand remains strong despite tighter lending rules, but a shortage of listings has led to bidding wars in some neighborhoods. All home types experienced both rising prices and different sales patterns in 2013.
Home prices rose in 2012 despite a slight drop in home sales. While sales were strong in the first half of the year, they declined in the second half due to stricter mortgage guidelines and additional taxes. Price growth was strongest for detached and semi-detached homes, which remained in high demand. Overall, the Toronto real estate market remained healthy in 2012 despite some challenges.
- Home sales in the Greater Toronto Area dropped 5.4% in June 2012 compared to June 2011, with condo sales falling 18%. However, average home prices rose 7.3% to $508,622.
- While sales dipped, the housing market remains affordable according to new mortgage guidelines, with average housing costs accounting for about 35% of average household income in the GTA.
- The sales slowdown represents a needed breather for the Toronto real estate market after long period of rising home prices and sales activity.
The document discusses home sales data from the Toronto Real Estate Board (TREB) in February 2012. Some key points:
- The average home selling price in the Greater Toronto Area reached a new high of $502,508, an 11% increase from February 2011.
- Home sales increased 16% from the previous February while new listings rose 11%.
- With inventory levels relatively low, competition between buyers pushed prices up substantially. Price growth is expected to remain strong.
- TREB President Richard Silver commented that both buyers and sellers are aware of current tight market conditions, as homes sold for 99% of the average asking price.
Provider of instant No obligation e-mail updates as soon as homes are listed. Get acess to homes as soon as they aprear on MLS. sign up today. click website to register to
great basic info for commercial real estateFabio Recine
This document provides an introduction to determining value in commercial real estate. It discusses that commercial value is based on the net operating income (NOI) of the property, which is income minus expenses. It also notes that commercial property value depends on both the physical building and the income stream from its business use. The document defines key terms like capitalization rate and cash on cash return. It emphasizes the importance of understanding the context and risks surrounding a property's income stream to fully assess its value.
Recine Team Report
Provider of instant No obligation e-mail updates as soon as homes are listed. Get acess to homes as soon as they aprear on MLS. sign up today. click website to register today
Recine Team Report
Provider of instant No obligation e-mail updates as soon as homes are listed. Get acess to homes as soon as they aprear on MLS. sign up today. click website to register today
Recine Team Report
Provider of instant No obligation e-mail updates as soon as homes are listed. Get acess to homes as soon as they aprear on MLS. sign up today. click website to register today
How are the homes for sale in Woodbridge, Maple and Toronto doing?Fabio Recine
- The Toronto real estate market is improving with a 21% increase in home sales and 9.5% rise in average prices in June 2011 compared to June 2010. This indicates the market is recovering.
- The strong sales in June capped off an interesting first half of 2011 for the Toronto market. While sales were initially sluggish, they rebounded in May and June.
- With continued affordable prices and interest rates, buyers remain confident in purchasing homes. However, tighter inventory has increased competition between buyers and accelerated annual price growth in the second quarter.
This document advertises two real estate agents, Fabio Recine and Melanie Maranda Recine, who work at an independently owned brokerage office. It provides their names, titles as sales representatives, and the office phone number.
The housing market in the Greater Toronto Area is expected to have record sales and price growth in 2010, but both sales and prices will begin to moderate in the second half of the year and into 2011. New home sales will increase to 42,000 units in 2010, with high-rise sales jumping 50% and housing starts rising 34% to 36,400 units. The unemployment rate in Toronto will fall slightly to an average of 9% in 2010 as employment gains push the rate lower in 2011, supporting homeownership demand.
The document provides 50 strategies for maximizing the appeal of a home for sale. It covers preparing helpful information for buyers, creating a warm interior mood, tidying overlooked interior areas, sprucing up the exterior, storing goods, and final preparations. Suggestions include providing photos, bills, warranties and community documents, using lighting, music and scents, tidying furniture, floors, and beds, and ensuring the yard and windows are clean and tidy. The goal is to make the home inviting and to minimize any potential negatives that could turn away buyers.
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Volleyball, born in 1895 through the inventive mind of William G. Morgan, originated as "Mintonette" within YMCA circles in Holyoke, Massachusetts, USA. Quickly evolving from its humble beginnings, it underwent a significant name change to "volleyball" as Alfred Halstead aptly captured its essence during an early exhibition. With standardized rules established, the sport spread rapidly, finding fertile ground within YMCA organizations and beyond. The formation of the Fédération Internationale de Volleyball (FIVB) in 1947 marked a pivotal moment, ushering in a new era of international recognition and growth. Volleyball made its Olympic debut in 1964, captivating audiences worldwide with its fast-paced action and competitive spirit. Over the years, beach volleyball emerged as a popular variant, further diversifying the sport's appeal. Today, volleyball stands as a global phenomenon, celebrated for its athleticism, teamwork, and universal accessibility, embodying the enduring spirit of camaraderie and competition.
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Euro 2024 Belgium's Rebirth the New Generation Match the Golden Era.docxEticketing.co
The Golden Group is over. Can a new group step up? Two years ago, Kevin De Bruyne plunged Belgium’s Euro 2024 plans into disorder when he claimed the team was “too old” to win in an interview with The Protector. That Belgian squad had 10 players over 30 and the maximum average age of any Euro Cup 2024 team at the competition. A group-stage exit and just one goal at the World Cup put Belgium on course for a restructure.
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Coach Domenico Tedesco has managed a tactical shakeup and a regular exit for some of the oldest players. Experienced bests remain, not least the 37-year-old Jan Vertonghen in defense, the 32-year-old De Bruyne himself in midfield, and 31-year-old Romelu Lukaku up visible.
Still, younger actors like De Bruyne’s Manchester City partner Jeremy Doku bring fresh vitality to the team. Euro Cup Germany Qualifying unbeaten with just four goals allowed from eight games was a welcome sign of accomplishment back on track under Tedesco.
The only other squad in Group E besides Belgium to UEFA Euro 2024 qualify unbeaten, Romania was awestruck by winning a group that also checked Switzerland and Israel. Still, Euro 2024 will test a squad sorely lacking in top-level skill.
Euro 2024: Belgium's Transition from Golden Generation to New Hope
Tottenham guardian Vlad Dragusin is the only Euro Cup 2024 squad member singing regularly for one of Europe’s top clubs this flavor. He even played only nine Premier League games since adoption in January. Goalkeeper Horatiu Moldovan is a stoppage at Atletico Madrid.
There’s a link to the beauty days of Romanian soccer with midfielder Ianis Hagi, son of Gheorghe Hagi, who assisted the team to the rounds of the 1994 World Cup and Euro 2000.
We are only a combine of days away from the UEFA Euro 2024 curtain raiser. The 24 squads are winding up their provisions and getting ready to give it their all to life the wanted Euro Cup Final trophy on July 14. Spread across six clusters, the first hurdle in the knockout phase will be the plump of 16.
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Germany and Scotland will take things off before we get into overdrive in two weeks. Meanwhile, Belgium will be longing to bounce back after a horrendous 2022 FIFA World Cup movement, which ended in the group stage.
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Roberto Martinez completed the way for Domenico Tedesco, who has overseen a compact start to his tenure. The 38-year-old will be assured heading into the group stage
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Use this guide if you want information about the rules that Throughout the guide, we refer to other forms and
apply to the Home Buyers’ Plan (HBP). publications. You can get these documents from any tax
services office or tax centre, or by calling us toll free at
:KDW LV WKH +%3 1-800-959-2221.
The HBP is a program that allows you to withdraw up
to $20,000 from your registered retirement savings plans
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(RRSPs) to buy or build a qualifying home. Withdrawals You can find most of our publications at
that meet all applicable HBP conditions do not have to be www.ccra.gc.ca on the Internet.
included in your income, and your RRSP issuer will not
withhold tax on these amounts. If you buy the qualifying RXU RSLQLRQ FRXQWV
home together with your spouse or common-law partner,
or other individuals, each of you can withdraw up to We review our income tax guides and pamphlets each year.
$20,000. If you have any comments or suggestions to help us
improve our publications, we’d like to hear from you!
Under the HBP, you have to repay all withdrawals to your
RRSPs within a period of no more than 15 years. Generally, Please send your comments to:
you will have to repay an amount to your RRSPs each year Client Services Directorate
until you have repaid all the amount you withdrew. If you Canada Customs and Revenue Agency
do not repay the amount due for a year, it will be included Place Vanier – Tower A
in your income for that year. Ottawa ON K1A 0L5
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In this guide, we use plain language to explain the most
common income tax situations. If you need more
information after reading this guide, contact the General
Enquiries section of your tax services office. You can find
the address and telephone numbers in the government
section of your telephone book. They are also available on
our Web site under the heading “Contact us” at
www.ccra.gc.ca.
Visually impaired persons can order publications in braille or
large print, or on audio cassette or computer diskette, by
calling 1-800-267-1267 weekdays from 8:15 a.m. to 5:00 p.m.
(Eastern Time).
La version française de cette publication est intitulée Régime d'accession à la propriété (RAP).
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Page Page
Glossary ................................................................................. 3 Chapter 2 – Repaying your withdrawals......................... 8
How do you make your repayments? ............................... 8
Chapter 1 – Participating in the HBP................................ 4
What happens if you choose to begin your
What is the HBP? .................................................................. 4
repayments earlier? .......................................................... 9
Can a withdrawal be made from any RRSP?................. 4
What happens if you repay more than the amount
What are the conditions for participating in the HBP? .... 4
you have to repay?............................................................ 9
You have to enter into a written agreement to buy
What happens if you repay less than the amount you
or build a qualifying home........................................... 5
have to repay? ................................................................... 10
You have to intend to occupy the qualifying home
Situations where the repayments have to be made in
as your principal place of residence............................ 5
less than 15 years .............................................................. 10
You have to be considered a first-time home buyer..... 5
If the participant dies ....................................................... 10
Your HBP balance on January 1 of the year of
If you become a non-resident.......................................... 11
withdrawal has to be zero ............................................ 6
If you are 70 years of age or over.................................... 11
Neither you nor your spouse or common-law
partner can own the qualifying home more Chapter 3 – Other rules you should know ...................... 11
than 30 days before the withdrawal............................ 6 What happens if you do not meet all
You have to be a resident of Canada .............................. 6 the HBP conditions? ......................................................... 11
You have to complete Form T1036.................................. 7 Cancelling your participation ......................................... 11
You have to receive all withdrawals in the If you cannot participate in the year, can you
same year ........................................................................ 7 participate in a later year? ............................................... 12
You cannot withdraw more than $20,000 ...................... 7 Can you use funds withdrawn under the HBP for
You have to buy or build the qualifying home other purposes?................................................................. 12
before October 1 of the year after the year of Can you participate in the Lifelong Learning Plan
withdrawal ..................................................................... 7 (LLP) at the same time?.................................................... 12
How do you make an HBP withdrawal? ........................... 8
You have to file a tax return............................................. 8
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T his glossary gives you a general description of the
technical terms that we use in this guide.
n the person was entitled to the disability amount on
line 316 of the person’s return for the year before the
HBP withdrawal, and still meets the eligibility
Common-law partner – This refers to a person of the
requirements for the disability amount when the HBP
opposite or the same sex who is not your spouse (see the
withdrawal is made; or
definition of spouse on the next page) when you live and
have a relationship with that person. In addition, at least n if the person was not entitled to the disability amount for
one of the following has to apply. He or she: any year before the HBP withdrawal, a Form T2201,
Disability Tax Credit Certificate, that a medical doctor or
n is the natural or adoptive parent (legal or in fact) of your
appropriate medical practitioner (i.e., an optometrist,
child;
audiologist, psychologist, or occupational therapist) has
n has been living and having a relationship with you for at certified, is filed for the person for the year of the HBP
least 12 continuous months; or withdrawal. If Form T2201 is not approved, your
withdrawals will not be considered eligible withdrawals
n lived with you previously as your spouse for at least under the HBP and they will have to be included in
12 continuous months. income for the year.
The above includes any period that you were separated for If all other eligibility requirements are met, we consider a
less than 90 days because of a breakdown in the person to be entitled to the disability amount even if costs
relationship. for an attendant or for care in a nursing home were claimed
Disabled person – For purposes of the HBP, a disabled as a medical expense by or on behalf of that person.
person includes you or a person related to you by blood, Eligible withdrawal – This is an amount you withdraw
marriage, or adoption, if you or the related person are from your RRSP that meets all HBP conditions that apply to
entitled to the disability amount for the year of the HBP your situation.
withdrawal. A related disabled person does not have to
reside with you in the same home. HBP balance – When you withdraw funds from your
RRSPs under the HBP, you create an HBP balance. Your
We consider a person to be entitled to the disability amount HBP balance at any time is the total of all eligible
if one of the following situations applies: withdrawals you made from your RRSPs minus the total of
all amounts you designated as an HBP repayment and the
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5. amounts included in your income (because they were not a series of withdrawals throughout the same year, provided
repaid to your RRSPs), in previous years. the total of your withdrawals is not more than $20,000. If
you buy the qualifying home together with your spouse or
Participant – You are considered an HBP participant if:
common-law partner, or other individuals, each of you can
n you make an eligible withdrawal from your RRSP to buy withdraw up to $20,000.
or build a qualifying home for yourself;
You have to repay all withdrawals to your RRSPs within a
n for 1999 and future years, you make an eligible period of no more than 15 years. Generally, you will have
withdrawal from your RRSP under the HBP to buy or to repay an amount to your RRSPs each year until you have
build a qualifying home for a related disabled person or repaid all the amount you withdrew. If you do not repay
to help such a person buy or build a qualifying home; or the amount due for a year, it will be included in your
income for that year.
n you are the spouse or common-law partner of a deceased
HBP participant and you elected to continue making the
repayments for the deceased participant. DQ D ZLWKGUDZDO EH PDGH IURP DQ 5563
You can only withdraw funds from an RRSP under which
Participation period – Your HBP participation period starts you (the participant) are the annuitant. If your spouse or
on January 1 of the year you receive an eligible withdrawal common-law partner contributed to your RRSP, you are the
from your RRSP and ends in the year your HBP balance is annuitant of the RRSP, even if your spouse or common-law
zero. partner deducted the contributions from taxable income. If
Qualifying home – A qualifying home is a housing unit you contributed to your spouse’s or common-law partner’s
located in Canada. This includes existing homes and those RRSP, that individual is the annuitant of the RRSP, even if
being constructed. Single-family homes, semi-detached you have deducted the contributions from your income.
homes, townhouses, mobile homes, condominium units, Some RRSPs, such as locked-in or group RRSPs, do not
and apartments in duplexes, triplexes, fourplexes, or allow you to withdraw funds from them. Your RRSP issuer
apartment buildings, all qualify. A share in a co-operative can give you more information about the types of RRSPs
housing corporation that entitles you to possess, and gives that you have and whether or not withdrawals under the
you an equity interest in, a housing unit located in Canada HBP can be made from them.
also qualifies. However, a share that only provides you
with a right to tenancy in the housing unit does not qualify. Note
If you withdraw an amount from an RRSP to which you
RRSP deduction limit – This refers to the maximum made a contribution during the 89-day period just before
amount you can deduct for contributions you made to your your withdrawal, you might not be able to deduct the
RRSP or to your spouse’s or common-law partner’s RRSP. contribution you made. For more information, see “How
Spouse – You have a spouse when you are legally married. do you make an HBP withdrawal?” on page 8.
You still have a spouse if you are living apart for reasons
other than a breakdown of your relationship. :KDW DUH WKH FRQGLWLRQV IRU
SDUWLFLSDWLQJ LQ WKH +%3
KDSWHU ² 3DUWLFLSDWLQJ LQ A number of conditions have to be met to participate in the
HBP. While some conditions have to be met before you can
WKH +%3 withdraw funds from your RRSPs, others apply when or
after you receive the funds.
:KDW LV WKH +%3 If you participate in the HBP, you have to meet all the HBP
conditions yourself. However, depending on your
The HBP is a program that allows you to withdraw up to situation, some conditions may have to be met by another
$20,000 from your registered retirement savings plans person. For example, if you withdraw funds from your
(RRSPs) to buy or build a qualifying home. The home can RRSPs to help a related disabled person buy or build a
be for yourself or it can be for a related disabled person if qualifying home, some conditions have to be met by that
one or both of the following applies: person.
n it is more accessible to that person than his or her current Regardless of the situation, you are responsible for making
home; or sure that all HBP conditions are met. If at any time during
your participation period a condition is not met, your
n it is better suited to that person’s needs.
withdrawal will not be considered an eligible withdrawal
You can acquire the home for the disabled person, or you and it will have to be included in income for the year you
can provide the withdrawn funds to the disabled person to received it.
acquire the home.
The following chart lists all the HBP conditions and who
You do not have to include eligible withdrawals in your has to meet them in different situations. We explain each
income, and your RRSP issuer will not withhold tax on condition in greater detail in the pages that follow the chart.
these amounts. You can withdraw a single amount or make
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RX KDYH WR HQWHU LQWR D ZULWWHQ DJUHHPHQW Note
WR EX RU EXLOG D TXDOLILQJ KRPH If you are withdrawing funds from your RRSPs to buy
or build a qualifying home for a related disabled person
To withdraw funds from your RRSPs under the HBP, you or to help a related disabled person to buy or build a
must first have entered into a written agreement to buy or qualifying home, that person must meet this condition.
build a qualifying home. Obtaining a preapproved
mortgage does not satisfy this condition.
RX KDYH WR EH FRQVLGHUHG D ILUVWWLPH KRPH
Note EXHU
If you are withdrawing funds from your RRSPs to help a
Generally, before you can withdraw funds from your
related disabled person to buy or build a qualifying
RRSPs to buy or build a qualifying home, you have to meet
home, that person must meet this condition.
the first-time home buyer’s condition.
RX KDYH WR LQWHQG WR RFFXS WKH TXDOLILQJ You are not considered a first-time home buyer if, at any
KRPH DV RXU SULQFLSDO SODFH RI UHVLGHQFH time during the period beginning January 1 of the fourth
year before the year of withdrawal and ending 31 days
When you withdraw funds from your RRSPs under the before your withdrawal, you or your spouse or
HBP, you have to intend to occupy the qualifying home as common-law partner owned a home that you occupied as
your principal place of residence no later than one year your principal place of residence.
after buying or building it. Once you occupy the home,
there is no minimum period of time that you have to live
there. Example 1
You want to participate in the HBP in 2002. To be
In some cases, you may not occupy the qualifying home by considered a first-time home buyer, you or your spouse or
the end of the 12-month period after you bought or built it. common-law partner cannot have owned and occupied a
If this happens to you, we still consider you a participant in home as your principal place of residence at any time
the HBP because you intended to occupy the home as your during the period beginning January 1, 1998, and ending
principal place of residence no later than one year after 31 days before your withdrawal in 2002.
buying or building it.
ZZZFFUDJFFD
7. In this section, the word “home” has the same meaning as RXU +%3 EDODQFH RQ -DQXDU RI WKH HDU RI
the term “qualifying home” which is defined on page 4. ZLWKGUDZDO KDV WR EH ]HUR
Note If you previously participated in the HBP, you may be able
You must meet the first-time home buyer’s condition at to do so again if:
the time you withdraw an amount from your RRSPs
n your HBP balance is zero on January 1 of the year during
under the HBP. If you are not considered a first-time
which you plan on making another HBP withdrawal; and
home buyer when you withdraw an amount, that
amount will have to be included in your income. n you meet all the other HBP conditions that apply to your
situation.
To determine if you are considered a first-time home buyer,
complete the following questionnaire: Your HBP balance is zero when the total of your designated
HBP repayments and the amounts included in your income
$UH RX FRQVLGHUHG D ILUVWWLPH KRPH EXHU (because they were not repaid to your RRSPs) in previous
4XHVWLRQ ² 'LG RX DW DQ WLPH GXULQJ WKH SHULRG EHJLQQLQJ years equals the total eligible withdrawals you received.
-DQXDU RI WKH IRXUWK HDU EHIRUH WKH HDU RI ZLWKGUDZDO
DQG HQGLQJ GDV EHIRUH WKH ZLWKGUDZDO RZQ D KRPH WKDW 1HLWKHU RX QRU RXU VSRXVH RU FRPPRQODZ
RX RFFXSLHG DV RXU SULQFLSDO SODFH RI UHVLGHQFH
SDUWQHU FDQ RZQ WKH TXDOLILQJ KRPH PRUH
HV RX DUH QRW FRQVLGHUHG D ILUVWWLPH KRPH EXHU WKDQ GDV EHIRUH WKH ZLWKGUDZDO
You cannot withdraw an amount from your RRSP under
1R *R WR TXHVWLRQ
the HBP if you or your spouse or common-law partner
4XHVWLRQ ² 'R RX KDYH D VSRXVH RU FRPPRQODZ SDUWQHU owned the home described on Form T1036, Home Buyers’
Plan (HBP) – Request to Withdraw Funds from an RRSP, more
HV *R WR TXHVWLRQ than 30 days before the date of your withdrawal.
1R RX DUH FRQVLGHUHG D ILUVWWLPH KRPH EXHU
Example 2
4XHVWLRQ ² 'LG RXU VSRXVH RU FRPPRQODZ SDUWQHU KDYH DQ Kate buys a qualifying home with a closing date
RZQHURFFXSLHG KRPH DW DQ WLPH GXULQJ WKH SHULRG
(acquisition date) of November 1, 2001. She must make her
EHJLQQLQJ -DQXDU RI WKH IRXUWK HDU EHIRUH WKH HDU RI
final withdrawal under the HBP no later than 30 days after
ZLWKGUDZDO DQG HQGLQJ GDV EHIRUH WKH ZLWKGUDZDO WKDW
RX RFFXSLHG ZLWK WKDW LQGLYLGXDO ZKLOH RX ZHUH OLYLQJ the closing date. Therefore, Kate has until
WRJHWKHU DV VSRXVHV RU FRPPRQODZ SDUWQHUV December 1, 2001, to make her last withdrawal under the
HBP. If she makes a withdrawal after December 1, 2001, it
HV RX DUH QRW FRQVLGHUHG D ILUVWWLPH KRPH EXHU will not be considered an eligible withdrawal and must be
included in her income for the year 2001.
1R RX DUH FRQVLGHUHG D ILUVWWLPH KRPH EXHU
,I RX FDQQRW SDUWLFLSDWH LQ WKH +%3 LQ D HDU EHFDXVH RX GR Note
QRW PHHW WKLV FRQGLWLRQ VHH WKH VHFWLRQ FDOOHG ´,I RX FDQQRW If you are withdrawing funds from your RRSPs to help a
SDUWLFLSDWH LQ WKH HDU FDQ RX SDUWLFLSDWH LQ D ODWHU HDUµ related disabled person to buy or build a qualifying
RQ SDJH
home, the disabled person and his or her spouse or
common-law partner (if applicable) must meet this
If at the time of withdrawal you have a spouse or condition.
common-law partner, it is possible that only one of you will
be considered a first-time home buyer.
RX KDYH WR EH D UHVLGHQW RI DQDGD
Exception to the first-time home buyer’s condition –You You have to be a resident of Canada when you receive
do not have to meet the first-time home buyer condition to funds from your RRSPs under the HBP and up to the time a
participate in the HBP if any of the following situations qualifying home is bought or built. If you are not sure
applies to you: whether you are a resident or non-resident of Canada, or
n you are a disabled person and you withdraw funds from you need more information about residency status, contact
your RRSPs under the HBP to acquire a home that is your tax services office.
more accessible, or better suited to your needs; If you become a non-resident after you receive your funds
n you withdraw funds from your RRSPs under the HBP to but before a qualifying home is bought or built, you may
acquire a home for a disabled person related to you by cancel your participation in the HBP. For more information,
blood, marriage, or adoption, that is more accessible to, see the section called “Cancelling your participation” on
or better suited to the needs of, that person; or page 11.
n you withdraw funds from your RRSPs under the HBP If you become a non-resident after a qualifying home is
and give those funds to a disabled person related to you bought or built, your withdrawal will be considered to be
by blood, marriage, or adoption, to acquire a home that is eligible. However, special rules will apply to the repayment
more accessible to, or better suited to the needs of, that of your HBP balance. For more information, see the section
person. called “If you become a non-resident” on page 11.
ZZZFFUDJFFD
8. RX KDYH WR FRPSOHWH )RUP 7 consider you to have built the home on the date it becomes
To make an eligible withdrawal under the HBP, you have habitable.
to use Form T1036, Home Buyers’ Plan (HBP) – Request to Note
Withdraw Funds from an RRSP. If you are withdrawing funds from your RRSPs to help a
You have to complete Form T1036 for each withdrawal you related disabled person to buy or build a qualifying
make. You will find a copy of the form at the end of this home, the disabled person must meet this condition.
guide, or you can complete it in its electronic format on our If you do not buy or build the qualifying home before
Internet site, at www.ccra.gc.ca. You can also order a copy October 1 of the year after the year of withdrawal, you can:
of the form by calling 1-800-959-2221.
n cancel your participation in the HBP (for more
information, see the section called “Cancelling your
RX KDYH WR UHFHLYH DOO ZLWKGUDZDOV LQ WKH participation” on page 11); or
VDPH HDU
n buy or build a different home, called a replacement
To participate in the HBP, you have to receive all the
property, before October 1 of the year following the year
withdrawals from your RRSPs in the same year. However,
of withdrawal.
if you receive an amount from your RRSP in one year and
another in January of the following year, we consider the A replacement property has to meet the same conditions as
amount received in January of the following year to have a qualifying home. You do not have to complete another
been received in the year the first withdrawal was made. Form T1036 to advise us that you are buying or building a
replacement property. Just send a letter to: Pension and
Note
RRSP Processing Group, Ottawa Technology Centre,
If you receive a withdrawal of funds in one year and
875 Heron Road, Ottawa ON K1A 1A2.
another after January of the following year, the amount
received after January will not be an eligible withdrawal Give your name, address, and social insurance number, as
under the HBP and you will have to include it in your well as the address (and phone number, if possible) of the
income. replacement property. Also, you have to certify in the letter
that you intend to occupy the replacement property as your
Example 3 principal place of residence no later than one year after you
On October 15, 2001, Chloe withdrew $7,500 from her RRSP buy or build it.
under the HBP. Before the withdrawal, Chloe had entered Note
into a written agreement to buy a qualifying home. In If you have already withdrawn from your RRSPs the
March 2002, she withdrew an additional $1,500 to pay $20,000 maximum allowed under the HBP, you cannot
expenses she had not anticipated. Because Chloe’s second make any more withdrawals to buy or build the
withdrawal was received after January 2002, it is not replacement property.
considered an eligible withdrawal and must be included in
her income for the year 2002. Extensions for buying or building a qualifying home or
replacement property – If you do not buy or build the
qualifying home you indicated on Form T1036 (or a
replacement property) before October 1 of the year
RX FDQQRW ZLWKGUDZ PRUH WKDQ
following the year of withdrawal, we still consider you to
You can withdraw up to $20,000 from your RRSPs under have met the deadline if either of the following situations
the HBP. You can make more than one withdrawal as long applies to you:
as the total of your withdrawals is not more than $20,000. If
you buy the qualifying home together with your spouse or n You had a written agreement, in effect on October 1 of
common-law partner, or other individuals, each individual the year following the year of withdrawal, to buy a
can withdraw up to $20,000. qualifying home or replacement property, and you buy
the property before October 1 of the second year
Note following the year of withdrawal. In addition, you have
If the total of your RRSP withdrawals under the HBP is to be a Canadian resident up to the time of purchase (see
more than $20,000, you will have to include the excess Example 4 below).
amount in your income for the year you receive it. In
addition, your RRSP issuer will have to withhold tax on n You paid before October 1 of the year following the year
the excess amount when paid. of withdrawal an amount at least equal to the total of
your withdrawals under the HBP to the contractors or
suppliers (with whom you deal at arm’s length) for
RX KDYH WR EX RU EXLOG WKH TXDOLILQJ KRPH
materials for the home being built, or towards its
EHIRUH 2FWREHU RI WKH HDU DIWHU WKH HDU RI construction (see Example 5 on the next page).
ZLWKGUDZDO
Generally, if you participate in the HBP in a particular year, Example 4
you have to buy or build the qualifying home before On February 10, 2002, Steven, a Canadian resident, enters
October 1 of the year following the year of withdrawal. into an agreement to buy a duplex, the ground floor of
We consider you to have bought or built a qualifying home which he will occupy as his principal place of residence.
if you bought or built it alone or with one or more Because of an existing lease, the possession date is
individuals. If you are building a qualifying home, we May 4, 2004.
ZZZFFUDJFFD
9. On February 20, 2002, Steven withdraws $15,000 from his The same rules apply if you contributed to your spouse’s
RRSPs under the HBP. On May 4, 2004, he takes possession or common-law partner’s RRSP during the 89-day
of the duplex and moves in. period just before that individual’s withdrawal from the
same RRSP under the HBP.
Because Steven withdrew his funds in 2002, he has to buy
the home before October 1, 2003. Although Steven took You and your spouse or common-law partner can use the
possession of the home after this deadline, we consider him chart on page 14 to determine the part of the contributions
to have bought the home by the deadline because he had an you or your spouse or common-law partner made that is
agreement in effect on October 1, 2003, he bought the home not deductible for any year.
before October 1, 2004, and he was a Canadian resident
when he bought it. RX KDYH WR ILOH D WD[ UHWXUQ
Example 5 Starting in the year you make your first HBP withdrawal,
In January 2000, Clare withdraws $10,000 from her RRSPs you have to complete and send us a return every year until
under the HBP. Earlier in the same month, she finalized a you have repaid all of your HBP withdrawals or included
contract to have her home built, and paid $2,000 to the them in your income. You have to send us a return even if
contractor. She paid $5,000 when construction started in you do not owe any tax. Attach the T4RSP slips your RRSP
April 2000, and $6,000 more in August 2001, for a total issuer sends you for your HBP withdrawals.
of $13,000. Clare dealt at arm’s length with the contractor.
You have to complete Schedule 7, RRSP Unused
Construction of the home is not completed until Contributions, Transfers, and HBP or LLP Activities (included
December 15, 2001, because the building materials arrived in your income tax package), and attach it to your return to
late. Because Clare withdrew her funds in 2000, she has to show your total HBP withdrawals and repayments in the
have the home built before October 1, 2001. Although year. This will help both you and us to keep track of them.
construction of the home is not completed until
December 15, 2001, we consider Clare’s home to have been
built by the deadline because the $13,000 she paid towards
its construction before this deadline is more than the total KDSWHU ² 5HSDLQJ RXU
amount of her withdrawals ($10,000), and because she dealt
at arm’s length with the contractor.
ZLWKGUDZDOV
+RZ GR RX PDNH DQ +%3 ZLWKGUDZDO O ver a period of no more than 15 years, you have to
repay to your RRSPs the amounts you withdrew under
the HBP. Generally, in each year of your repayment period,
You have to complete Form T1036, Home Buyers’ Plan you have to repay 1/15 of the total amount you withdrew
(HBP) – Request to Withdraw Funds from an RRSP, for each until the full amount is repaid to your RRSPs. Your
RRSP withdrawal that you make under the HBP. You will repayment period starts the second year following the year
find a copy of the form at the end of this guide, or you can you made your withdrawals.
complete it in its electronic format on our Internet site at
You will receive a Home Buyers’ Plan (HBP) Statement of
www.ccra.gc.ca. You can also order a copy of the form by
Account each year on your Notice of Assessment or
calling 1-800-959-2221.
Reassessment. This statement will show the total HBP
After completing Area 1 of Form T1036, give it to your withdrawals, the amount you have repaid to date, your
RRSP issuer who will complete Area 2. Your RRSP issuer HBP balance, and the amount you have to repay the
will not withhold tax from the funds you withdraw if you following year.
meet the HBP rules. Your RRSP issuer will send you a
Note
T4RSP slip, Statement of Registered Retirement Savings Plan
Even if you declare bankruptcy, you still have to repay
Income, showing the amount you withdrew under the HBP.
to your RRSPs all amounts that you withdrew under
You have to attach the slip to your tax return.
the HBP.
Your RRSP deduction may be affected by an HBP
participation +RZ GR RX PDNH RXU UHSDPHQWV
If you participate in the HBP, certain rules limit your
RRSP deduction for contributions you made to your To make a repayment under the HBP, you have to make
RRSP during the 89-day period just before your contributions to your RRSPs in the year the repayment is
withdrawal under the HBP. Under these rules, you may due or in the first 60 days of the following year. You can
not be able to deduct all or part of the contributions contribute the repayments to any of your RRSPs. Once your
made during that period for any year. contribution is made, you have to designate all or part of
the contribution as a repayment under the HBP.
You cannot deduct the amount, if any, by which the total
of your contributions to an RRSP during the 89-day To designate your repayment, complete Schedule 7, RRSP
period just before your withdrawal from that RRSP, is Unused Contributions, Transfers, and HBP or LLP Activities (in
more than the fair market value of that RRSP after your your tax package), and file it with your return. You have to
withdrawal. do this even if you would not otherwise have to file a
return for the year.
Contributions you cannot designate – Not all
contributions you make to your RRSPs in the repayment
ZZZFFUDJFFD
10. year or in the first 60 days of the following year can be Robert files Schedule 7 with his 2001 return and designates
designated as a repayment under the HBP. You cannot $400 of the total $8,200 he contributed to his RRSPs as a
designate contributions that: repayment under the HBP. Robert can deduct, on line 208
of his 2001 return, only $7,800 of the contributions made to
n you make to your spouse’s or common-law partner’s
his RRSPs because we do not consider the $400 he
RRSPs (or that he or she makes to your RRSPs);
designates as a repayment under the HBP to be an RRSP
n are amounts you transfer directly to your RRSPs from a contribution.
registered pension plan, deferred profit-sharing plan,
registered retirement income fund, the Saskatchewan
Pension Plan, or another RRSP; :KDW KDSSHQV LI RX FKRRVH WR EHJLQ
n are amounts you deducted as a recontribution of an RXU UHSDPHQWV HDUOLHU
excess qualifying withdrawal that you designated to
You can choose to begin your repayments earlier, but your
have a past-service pension adjustment approved;
repayment period will remain the same. Any repayments
n are amounts that you designate as a repayment under the made before you are required to start your repayments will
Lifelong Learning Plan (LLP) for the year; reduce the actual amount you have to repay in the first year
of your repayment period.
n are amounts you contribute in the first 60 days of the
repayment year, that you deducted on your return for
the previous year, or designated as a repayment for the :KDW KDSSHQV LI RX UHSD PRUH WKDQ
previous year under the HBP or the LLP; or WKH DPRXQW RX KDYH WR UHSD
n are amounts you receive in the year, such as retiring If you repay and designate more than you have to repay,
allowances, that you transfer to your RRSPs and deduct the HBP balance you have to repay to your RRSPs for later
or will deduct on your return for that year. years is reduced.
Note The annual Home Buyers’ Plan (HBP) Statement of Account
If you do not have an RRSP deduction limit for the that we send you on your Notice of Assessment or
repayment year, you can still contribute to your RRSPs Reassessment takes into account any additional payments
and designate the amount you contribute as a repayment you make and gives you the repayment amount for the
under the HBP. We do not consider an amount you next year.
designate as a repayment under the HBP to be an RRSP
If you want to calculate the minimum amount you have to
contribution. Therefore, you cannot claim a deduction
repay for the next year, divide your HBP balance by the
for this amount on your return.
number of years remaining in your repayment period.
Example 6
Example 7
In 1999, Robert withdraws $6,000 from his RRSPs to
In 1999, Suzanne withdraws $16,500 from her RRSPs to
participate in the HBP. Robert’s repayment for 2001 is
participate in the HBP. Her repayment for 2001 is $1,100
$400 ($6,000 ÷ 15).
($16,500 ÷ 15). Suzanne makes the repayment for 2001, and
In 2001, Robert contributes $8,200 to his RRSPs. Robert for 2002 and 2003. In 2004, Suzanne receives an inheritance
could deduct the full amount on his 2001 return because his and decides to contribute $8,000 to her RRSPs and
Notice of Assessment shows that he has an RRSP deduction designate that amount as a repayment under the HBP for
limit of $11,000 for 2001. the year 2004. She calculates the amount she has to repay
for the year 2005, using the chart below.
DOFXODWLQJ WKH DQQXDO DPRXQW 6X]DQQH KDV WR UHSD
ROXPQ $ ROXPQ % ROXPQ
HDU +%3 EDODQFH FROXPQ $ PLQXV $PRXQW 6X]DQQH KDV $PRXQW 6X]DQQH UHSDV DQG GHVLJQDWHV
FROXPQ IRU WKH SUHYLRXV HDU
11. WR UHSD IRU WKH HDU DV D UHSDPHQW IRU WKH HDU
¸
17. :KDW KDSSHQV LI RX UHSD OHVV WKDQ the surviving spouse’s or common-law partner’s revised
WKH DPRXQW RX KDYH WR UHSD HBP balance has to be repaid over the remaining number of
years in his or her repayment period.
If you repay and designate less than the amount you have
to repay, you have to include the difference on line 129 of However, if the surviving spouse or common-law partner
your return. The amount you include on line 129 is the was not a participant, the deceased participant’s HBP
amount you have to repay for the year, minus the amount balance has to be repaid over the same number of years
you repay and designate. You cannot include in income an remaining in the deceased’s participation period.
amount that is more than the result of this calculation. To make a joint election, the surviving spouse or
common-law partner and the deceased’s legal
6LWXDWLRQV ZKHUH WKH UHSDPHQWV KDYH representative should sign a letter and attach it to the
WR EH PDGH LQ OHVV WKDQ HDUV deceased’s return for the year of death. The letter should
state that an election is being made to have the surviving
Additional repayment rules apply if an HBP participant: spouse or common-law partner continue making
repayments under the HBP, and to not have the income
n dies;
inclusion rule apply for the deceased.
n becomes a non-resident; or
Generally, if the surviving spouse or common-law partner
n is 70 years of age or over. who was not participating in the HBP elects to continue
making the repayments for the deceased individual, the
,I WKH SDUWLFLSDQW GLHV surviving spouse or common-law partner is considered a
participant and cannot make a withdrawal from any RRSP
General rule – If an HBP participant dies, the legal under the HBP until the HBP balance is completely repaid.
representative has to include the participant’s HBP balance
in the participant’s income for the year of death. Note
If an election is made and the deceased had not made a
The amount to be included in a deceased participant’s repayment for the year of death, no repayment will be
income for the year of death is equal to the participant’s required for that year for the deceased.
HBP balance before death less any RRSP contributions
(made before the participant died) designated as an HBP
repayment for the year of death. Example 9
Ron dies June 10, 2002. At the time of death, Ron is a
participant in the HBP but his common-law partner,
Example 8 Joanne, is not. At the time of death, Ron has an HBP
John dies in 2004. At the time of death, his HBP balance was balance of $5,000. Unless Joanne elects to make Ron’s HBP
$7,000. He had made a $1,000 RRSP contribution before he repayments, the $5,000 HBP balance will have to be
died, which he intended to designate as an HBP repayment included on Ron’s 2002 return.
for 2004. John’s legal representative has to include $6,000
($7,000 – $1,000) as income on line 129 of John’s final return Joanne, who is the legal representative of the estate, decides
for 2004. to repay Ron’s HBP balance. She attaches a letter to Ron’s
2002 return to elect to repay Ron’s HBP balance and to not
have the income inclusion rules apply for Ron. Joanne will
HBP election – If, at the time of death, the participant had a
continue making the repayments to her RRSPs following
spouse or common-law partner who is a resident of
Ron’s repayment period.
Canada, that individual can elect jointly with the
deceased’s legal representative, to make the repayments As a result of making the election, Joanne is now
under the HBP and to not have the income inclusion rule considered a participant. She cannot make an HBP
apply for the deceased participant. The participant’s HBP withdrawal from her RRSPs until the HBP balance has been
balance at the time of death less any RRSP contributions completely repaid.
designated as an HBP repayment for the year of death is
treated as if the surviving spouse or common-law partner Example 10
withdrew it, and it has to be repaid to that individual’s Gert and David are married. In 2001, they each withdraw
RRSPs. $20,000 from their respective RRSPs to participate in the
HBP. The repayment period for both Gert and David is
Note from 2003 to 2017.
If, in the year of death but before the participant dies, the
surviving spouse or common-law partner became a On December 7, 2007, Gert dies. At that point, she still had
participant, that individual may still withdraw amounts $12,000 of her total withdrawal left to repay. She had not
under the HBP (up to $20,000) from his or her RRSPs in made her repayment for 2007.
the year. There are no adverse tax consequences to the David, who is the legal representative of the estate, attaches
surviving spouse or common-law partner if, as a result a letter to Gert’s final return to state that he is electing to
of electing to treat the deceased’s HBP balance as his or repay her $12,000 HBP balance to his RRSPs. As a result of
her own, the new HBP balance exceeds $20,000. making the election, the unpaid balance of $12,000 does not
For deaths that occur after 1998, if at the time of death the have to be included in Gert’s income for 2007 and a
participant’s surviving spouse or common-law partner is repayment for Gert for the year of death does not have to
also a participant and the election described above is made, be made.
ZZZFFUDJFFD
18. When Gert died, David had made his repayment for 2007. ($5,600 ÷ 12 = $466.67) in income for each year from 2006
His balance to be repaid is $10,000. Gert’s unpaid balance of to 2017.
$12,000 is added to David’s $10,000, and he will have to
If Mary did not repay any part of the $15,600, she would
repay $22,000 over the next 10 years (2008 to 2017,
have to include $1,200 in income each year from 2005 to
inclusive). In 2008, he has to repay $2,200, determined as
2017. If Mary repaid the entire $15,600, she would not have
($10,000 + $12,000) ÷ 10 years.
to include any part of this amount in her income.
,I RX EHFRPH D QRQUHVLGHQW
You may cease to be a resident of Canada after a qualifying
home is bought or built. If this is the case, you have to KDSWHU ² 2WKHU UXOHV RX
repay the balance of the funds you withdrew under the
HBP before the date you file your return for the year, or no
VKRXOG NQRZ
later than 60 days after you cease to be a Canadian resident,
whichever date is earlier. If you do not make the repayment :KDW KDSSHQV LI RX GR QRW PHHW DOO
by this deadline, you have to include the amount that you WKH +%3 FRQGLWLRQV
have not repaid in your income for the year that you
became a non-resident. The amount is included in income If you do not meet all the HBP conditions, your RRSP
for the period you were resident in Canada. withdrawals will not be considered eligible and will have to
be included in income for the year you received them. If we
have already assessed your return for that year, we will
Example 11 reassess it to include the withdrawals.
In 2000, Jeannie withdraws $10,000 from her RRSPs under
the HBP to buy a qualifying home. On November 10, 2004,
she leaves Canada to live in France. At that time, her DQFHOOLQJ RXU SDUWLFLSDWLRQ
unpaid HBP balance is $4,000. You can cancel your participation in the HBP if you have
met all but one of the following HBP conditions:
Jeannie has 60 days after becoming a non-resident, that is,
until January 9, 2005, to repay the balance. She contributes n you did not buy or build a qualifying home or
$2,500 to her RRSPs on December 2, 2004, and $1,000 to her replacement property; or
RRSPs on January 7, 2005, for a total contribution of $3,500. n you became a non-resident before buying or building a
Jeannie completes and files Schedule 7 with her 2004 return qualifying home or a replacement property.
to designate this contribution as a repayment under the
HBP. Because she has not repaid the full amount, Jeannie If either of these situations applies to you, complete the
has to include $500 in her 2004 income, calculated as cancellation form on page 13 of this guide.
$4,000 − ($2,500 + $1,000).
You can also do it if you gave the funds you withdrew
under the HBP to a related disabled person to acquire a
home, and:
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n that person does not buy or build a qualifying home or
After the end of the year you reach the age of 69, you will
not be able to repay your withdrawals made under the replacement property; or
HBP. This is because you cannot contribute to an RRSP n you become a non-resident before that person buys or
after the end of the year you reach the age of 69. builds a qualifying home or a replacement property.
In the year you reach the age of 69, you can choose to repay Note
all or part of your HBP balance. If you do not repay your If you make a withdrawal from your RRSP that meets all
entire HBP balance, you have to include in your income, for applicable HBP conditions, you cannot cancel your
each later year, the amount that would be your annual participation.
repayment as it becomes due.
If you repay to your RRSPs the full amount you withdrew
under the HBP, you will not be taxed on your withdrawal.
Example 12 Any portion of your withdrawal that is not repaid will have
In 2001, Mary withdraws $18,000 from her RRSPs to to be included in your income for the year you received the
participate in the HBP. In 2005, Mary reaches the age of 69. funds.
Mary repays the amount of $1,200 for 2003 and 2004, and at You can make your cancellation payments to any of your
the beginning of 2005 has an HBP balance of $15,600 to RRSPs or to a new RRSP, with any issuer.
repay to her RRSPs. Because Mary reaches the age of 69 in
2005, this is the last year she can contribute to her RRSPs. Due date for making cancellation payments – If you
cancel your participation because a qualifying home or
Mary has to decide how much of the $15,600 to repay to her replacement property was not bought or built, your
RRSPs in 2005. Mary decides to contribute $10,000 to her cancellation payments are due on or before December 31 of
RRSPs and to designate that amount as a repayment under the year after the year you received the funds.
the HBP. This leaves her with an unpaid balance of $5,600
at the end of 2005. Mary will have to include $466.67 If you cancel your participation because you became a
non-resident before a qualifying home or replacement
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19. property was bought or built, your due date will depend on year you want your participation period to start, you may
when you became a non-resident. If you were a be able to participate in the HBP in a later year.
non-resident at the time you filed a return for the year you
First-time home buyer – If, during the period beginning
received the funds, your cancellation payments are due on
January 1 of the fourth year before the year of withdrawal
or before the earlier of the following two dates:
and ending 31 days before your withdrawal, neither you
n December 31 of the year after the year you received the nor your spouse or common-law partner owned a home
funds; or that you occupied as your principal place of residence, you
may be able to participate in the HBP. For example, if in
n the day you filed a return for the year you received the
1996, you sold the home you previously lived in, you may
funds.
be able to participate in 2001, or if you sold the home in
In all other situations, your cancellation payments are due 1997, you may be able to participate in 2002.
on or before December 31 of the year after the year you
HBP balance – If you participated in the HBP in a previous
received the funds.
year, you can do so again if your HBP balance on January 1
How to cancel your participation – To cancel your of the year in which you want your new participation to
participation, you have to complete the form provided on begin is zero, and you meet all the other HBP conditions
the next page. Send us the completed form and the official that apply to your situation.
RRSP contribution receipt your RRSP issuer gave you on or
For example, you withdraw funds from your RRSPs under
before the cancellation payment due date that applies to
the HBP in 1997. Your repayment period is from 1999
you.
to 2013. If you repay the funds you withdrew over the full
15-year repayment period, you may be able to participate in
Example 13 the HBP again in 2014. If you completed repaying the funds
Jason and his spouse, Karen, each complete Form T1036 on in 2006, you may be able to participate in the HBP again
April 10, 2002, to withdraw amounts from their RRSPs in 2007.
under the HBP. Jason withdraws $12,000 from his RRSPs
Note
and Karen withdraws $14,000 from her RRSPs. They had
If you repay the remainder of your HBP balance owing
entered into a written agreement on March 20, 2002, to buy
by designating an RRSP contribution made in the first
a qualifying home on September 12, 2002.
60 days of the following year, we consider your HBP
In August 2002, Jason and Karen decide not to buy the balance to be zero on January 1 of the year in which the
home and to cancel their participation in the HBP. Jason contribution was made.
repays $12,000 to one of his RRSPs. He completes the
cancellation form and sends it to us with his official RRSP DQ RX XVH IXQGV ZLWKGUDZQ XQGHU
receipt on or before December 31, 2003.
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Karen also completes and sends us the cancellation form
with her official RRSP receipt before 2004, but she decides As long as you buy or build a qualifying home and meet all
to keep $6,000 of the withdrawn funds and repays only the conditions to participate in the HBP, you can use the
$8,000 to her RRSP. Karen has to report $6,000 as income on funds you withdrew under the HBP for any purpose.
her 2002 return, because she did not repay these funds to
her RRSP. DQ RX SDUWLFLSDWH LQ WKH /LIHORQJ
/HDUQLQJ 3ODQ //3
20. DW WKH VDPH WLPH
,I RX FDQQRW SDUWLFLSDWH LQ WKH HDU You can participate in the HBP even if you have withdrawn
funds from your RRSPs under the LLP that you have not
FDQ RX SDUWLFLSDWH LQ D ODWHU HDU yet fully repaid. For more information about the LLP, get
If you cannot participate in the HBP in a year, because you the guide called Lifelong Learning Plan (LLP).
do not meet the first-time home buyer’s condition or
because your HBP balance was not zero on January 1 of the
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21. HOME BUYERS’ PLAN (HBP) – CANCELLATION
Complete this form to advise us that you have not met one of the following HBP conditions (please check the box that applies to you):
A qualifying home or replacement property was not bought or built.
I ceased to be a resident of Canada before a qualifying home or replacement property was bought or built.
If you have met all but one of the above-stated HBP conditions, you can repay your HBP withdrawals to your RRSPs and not pay tax
on them. If you do not repay all the amounts you withdrew, you have to include the unpaid amounts in your income for the year you
received the funds. You can make your cancellation payments to any of your RRSPs. For information on making cancellation
payments, see “Cancelling your participation” on page 11.
Last name First name and initials Social insurance number
Address Amount of cancellation payment
(please attach official receipt)
City Province Postal code Telephone number
22. $
Participant’s signature Date
Send this form and your official RRSP contribution receipts (if applicable) to: Pension and RRSP Processing Group
Ottawa Technology Centre
875 Heron Road,
Ottawa ON K1A 1A2
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