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if you closing day is Nov.28,2002, You can make withdraw before Dec28,2002 Still. (within 30 Days after closing)

bluewhite(light blue)

Neither you nor your spouse or common-law partner can own the qualifying home more than 30 days before the withdrawal
You cannot withdraw an amount from your RRSP under the HBP if you or your spouse or common-law partner owned the home described on Form T1036, Home Buyers' Plan (HBP) - Request to Withdraw Funds from an RRSP, more than 30 days before the date of your withdrawal.

Example 2
Kate buys a qualifying home with a closing date (acquisition date) of November 1, 2001. She must make her final withdrawal under the HBP no later than 30 days after the closing date. Therefore, Kate has until December 1, 2001, to make her last withdrawal under the HBP. If she makes a withdrawal after December 1, 2001, it will not be considered an eligible withdrawal and must be included in her income for the year 2001.

(#810497@0)
Last Updated: 2002-10-21
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枫下家园 / 住房话题 /
tor
Toronto Area

请教：RRSP取出来做买房屋的DOWN PAYMENT的话，到底是三个月，还是89天？我现在遇到困难了。我的RRSP是今年8月30号买的，看中一APTMENT，想11月28 OR 29 CLOSING，可时间不够，如果11月30号，又是个星期六，银行不开门。 -blue_blue(blue); 2002-10-21 {342} (#809103@0)
请教：RRSP取出来做买房屋的DOWN PAYMENT的话，到底是三个月，还是89天？我看到过几个帖子，有人说是三个月，有人说是超过89天，很糊涂。我现在遇到困难了。我的RRSP是今年8月30号买的，看中一APTMENT，想11月28 OR 29 CLOSING，这样就不用再付12月的房租了。可时间不到三个月(严格算三个月应该是11月30号，是一星期六)，但是如果按89天算，就正好，各位帮帮忙，谢谢。

各位怎么帮忙？自己到银行去问问吧。（别人说了不算） -rollor(Rollor); 2002-10-21 (#809113@0)

I just called them. I can withdraw it on November 28. but they need 6 days to do the transaction. I am dead now. -blue_blue(blue); 2002-10-21 (#809714@0)

你可以用rrsp的钱作抵押，让银行借钱给你，只是你要付点利息而已。 -mqu27(泥泥燕); 2002-10-21 (#809724@0)

可是，RRSP是直接RANSFER到律师那的，如果我用银行的贷款，汇款的DOWNPAY 不是RRSP，那就不能得到TAX CREDIT了？ -blue_blue(blue); 2002-10-21 (#809930@0)

我当初给银行的时间也不够，结果他们给我特批了一个Line of Credit（其实他们早就想给我这个，我一直没要）。 -rollor(Rollor); 2002-10-22 (#811634@0)

If you have spare money to pay for downpay, you don't need to accept the line of credit.... Business is business... -adrian(dobetter); 2002-10-22 (#811696@0)

我想日历三个月或90天的可能性都有，但是89天大概不会吧 -tocai(tocai); 2002-10-21 (#809151@0)

RRSP can be withdrawn on the 90th day. My bank said that is on November 28 (based on my deposit day is August 30.) thanks. -blue_blue(blue); 2002-10-21 (#809717@0)

It is 90 days, neither 89 days nor 3 months. -wins(wins); 2002-10-21 (#809167@0)

you are right :). thanks -blue_blue(blue); 2002-10-21 (#809719@0)

What I understand.... -ralph(Flyingsky); 2002-10-21 {304} (#809527@0)
You need to have your money stay in your RRSP account 89 days. So you can ask to withdraw on the 90th day, and you should give your bank 1 business day before they put the money into your other account.
If you need the money before you can withdraw your RRSP, Email me, I can tell you a not bad way.

i already sent you an email. thanks. -blue_blue(blue); 2002-10-21 (#809720@0)

我的理解是HBP没有要求你必须用它来做downpay，所以你完全可以在12月底之前再取出移作别用。参考这个link:http://www.ccra-adrc.gc.ca/E/pub/tg/rc4135/README.html。 -adrian(dobetter); 2002-10-21 (#809978@0)
if you closing day is Nov.28,2002, You can make withdraw before Dec28,2002 Still. (within 30 Days after closing) -bluewhite(light blue); 2002-10-21 {819} (#810497@0)
Neither you nor your spouse or common-law partner can own the qualifying home more than 30 days before the withdrawal
You cannot withdraw an amount from your RRSP under the HBP if you or your spouse or common-law partner owned the home described on Form T1036, Home Buyers' Plan (HBP) - Request to Withdraw Funds from an RRSP, more than 30 days before the date of your withdrawal.

Example 2
Kate buys a qualifying home with a closing date (acquisition date) of November 1, 2001. She must make her final withdrawal under the HBP no later than 30 days after the closing date. Therefore, Kate has until December 1, 2001, to make her last withdrawal under the HBP. If she makes a withdrawal after December 1, 2001, it will not be considered an eligible withdrawal and must be included in her income for the year 2001.

Thank you. if my closing day is on November 28, then I can withdraw RRSP as HBP till December 28. The problem is that RRSP have to be transfered to the lawyer's office at closing day as the downpayment directly -blue_blue(blue); 2002-10-22 {483} (#811144@0)
Thank you. As you said, if my closing day is on November 28, and I can withdraw RRSP as HBP till December 28. The problem is that RRSP have to be transfered to the layer's office at the closing day (Novemeber 28) as the downpayment directly right?

If I pay the downpay by myself on November 28, first, and then till December I withdraw my money from RRSP account as HBP, where this money will be transfered to? Not to lawyer's office? who make sure that this money is for HBP?

Who told you to transfer the money directly to lawyer? According to the document, there is nothing about this rule. And the document also says: -adrian(dobetter); 2002-10-22 {256} (#811603@0)
"As long as you buy or build a qualifying home and meet all
the conditions to participate in the HBP, you can use the
funds you withdrew under the HBP for any purpose."

Ask your RRSP issuer, you should be able to just get the money paid to yourself.

@PEI

if you closing day is Nov.28,2002, You can make withdraw before Dec28,2002 Still. (within 30 Days after closing)

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