If you or someone you know is considering using RRSP’s (i.e withdrawing them from your plan) to purchase a home that you will live in, here is an excellent article outlining how this works. You want to be able to have the funds count as a tax deduction and as well, withdraw them with out paying a withholding tax, but there are certain rules to follow in order to achieve this.

Especially as this is RRSP season, a reminder for those of you who are considering this avenue for your down payment. Click here for the details http://bit.ly/y05V1H  and don’t hesitate to call me to discuss further.

I’m your Realtor in Victoria, Fergus Kyne. 250 216 1217