Which one(s) is/are true for RRSP? (There might be more than one answer). Question 1 options: The Home Buyers' Plan (HBP) is a tax-free withdrawal from an RRSP account for persons who are deemed to be first-time home buyers. An eligible person is permitted to take an withdraw up to $35,000.00 from their RRSPs to purchase or construct a home for themselves. The LLP student must be enrolled on a full-time basis at the educational institution. Students can not be enrolled on a part-time basis under any conditions. Any contribution made to an RRSP within 89 days prior to the HBP request does not qualify to be part of the HBP program. Up to $5000 net per year, over four years, up to a maximum of $20,000 net, can be redeemed per spouse for purposes of the LLP.
Which one(s) is/are true for RRSP? (There might be more than one answer).
Question 1 options:
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The Home Buyers' Plan (HBP) is a tax-free withdrawal from an RRSP account for persons who are deemed to be first-time home buyers. An eligible person is permitted to take an withdraw up to $35,000.00 from their RRSPs to purchase or construct a home for themselves. |
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The LLP student must be enrolled on a full-time basis at the educational institution. Students can not be enrolled on a part-time basis under any conditions. |
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Any contribution made to an RRSP within 89 days prior to the HBP request does not qualify to be part of the HBP program. |
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Up to $5000 net per year, over four years, up to a maximum of $20,000 net, can be redeemed per spouse for purposes of the LLP. |
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