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    build a qualifying home. The amount of money withdrawn must be repaid within 15 years.

    If you buy the qualifying home together with your spouse or other individuals, each person can withdraw up to $20,000 tax free. A government form must be completed for each withdrawal. Generally, an RRSP h

    Car Wash Industry Surveys and Reality Check
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    Simply put, you can carry a home of your own for no more than what you would pay in rent. And, unlike renting, your payments go toward increasing the equity in your home.

    So, what’s stopping you? For most people who have never owned a home before, it’s the initial down payment and the ability to keep up with the monthly financial obligations (mortgage payment, insurance, utilities, maintenance).

    The effort to save for and buy a home may require you to make significant changes in your way of life. For most people, it means changing their spending and lifestyle habits to support the additional costs of saving for, paying for, and maintaining a home.

    One of the best ways of saving for a down payment is to take advantage of government programs available to first-time home buyers. A real estate professional can help you understand how these programs work and ensure that you get the maximum benefit possible.

    RRSP Home Buyers’ Plan

    Contribute to a Registered Retirement Savings Plan (RRSP) regularly and to the maximum allowed. The federal government’s RRSP Home Buyers’ Plan enables eligible taxpayers to withdraw up to $20,000 tax free from their plan to buy or build a qualifying home. The amount of money withdrawn must be repaid within 15 years.

    If you buy the qualifying home together with your spouse or other individuals, each person can withdraw up to $20,000 tax free. A government form must be completed for each withdrawal. Generally, an RRSP ho

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    to keep up with the monthly financial obligations (mortgage payment, insurance, utilities, maintenance).

    The effort to save for and buy a home may require you to make significant changes in your way of life. For most people, it means changing their spending and lifestyle habits to support the additional costs of saving for, paying for, and maintaining a home.

    One of the best ways of saving for a down payment is to take advantage of government programs available to first-time home buyers. A real estate professional can help you understand how these programs work and ensure that you get the maximum benefit possible.

    RRSP Home Buyers’ Plan

    Contribute to a Registered Retirement Savings Plan (RRSP) regularly and to the maximum allowed. The federal government’s RRSP Home Buyers’ Plan enables eligible taxpayers to withdraw up to $20,000 tax free from their plan to buy or build a qualifying home. The amount of money withdrawn must be repaid within 15 years.

    If you buy the qualifying home together with your spouse or other individuals, each person can withdraw up to $20,000 tax free. A government form must be completed for each withdrawal. Generally, an RRSP h

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    additional costs of saving for, paying for, and maintaining a home.

    One of the best ways of saving for a down payment is to take advantage of government programs available to first-time home buyers. A real estate professional can help you understand how these programs work and ensure that you get the maximum benefit possible.

    RRSP Home Buyers’ Plan

    Contribute to a Registered Retirement Savings Plan (RRSP) regularly and to the maximum allowed. The federal government’s RRSP Home Buyers’ Plan enables eligible taxpayers to withdraw up to $20,000 tax free from their plan to buy or build a qualifying home. The amount of money withdrawn must be repaid within 15 years.

    If you buy the qualifying home together with your spouse or other individuals, each person can withdraw up to $20,000 tax free. A government form must be completed for each withdrawal. Generally, an RRSP h

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    get the maximum benefit possible.

    RRSP Home Buyers’ Plan

    Contribute to a Registered Retirement Savings Plan (RRSP) regularly and to the maximum allowed. The federal government’s RRSP Home Buyers’ Plan enables eligible taxpayers to withdraw up to $20,000 tax free from their plan to buy or build a qualifying home. The amount of money withdrawn must be repaid within 15 years.

    If you buy the qualifying home together with your spouse or other individuals, each person can withdraw up to $20,000 tax free. A government form must be completed for each withdrawal. Generally, an RRSP h

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    build a qualifying home. The amount of money withdrawn must be repaid within 15 years.

    If you buy the qualifying home together with your spouse or other individuals, each person can withdraw up to $20,000 tax free. A government form must be completed for each withdrawal. Generally, an RRSP holder can participate in the Home Buyers’ Plan only once in a lifetime. The pamphlet, Home Buyers’ Plan (HBP) - For 1998 Participants, is available from Revenue Canada and will help you determine if you are considered a first-time home buyer.

    A qualifying home is a housing unit located in Canada. Those participating in 1998 have to buy or build a home before Oct. 1, 1999. You must also agree to occupy the home as your principle residence no later than one year after buying or building it. Once you occupy the home, there is no minimum period of time that you have to live there.

    Ontario Home Ownership Savings Plan (OHOSP) OHOSP is a provincial program where participants receive interest on the money they deposit and may receive a tax credit. If you earn less than $40,000 a year, or if you and your spouse have a combined income of less than $80,000, you can benefit from the program. To be eligible, you must be an Ontario resident over 18 years of age with a social insurance number and have never owned a home.

    While there is no limit to the amount of money you may deposit in your OHOSP, you can only receive OHOSP tax credits on annual contributions of $2,000 ($4,000

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