Sentences with phrase «rrsp as a downpayment»
Not exact matches
The average homeowner receives $ 1,823 a year through programs such as tax - free capital gains on the sale of principal residences and the Home Buyers Plan that lets first - time buyers withdraw money from their RRSPs for downpayment.
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For example, if you're in the 30 % tax bracket and were able to save $ 17.5 k in your TFSA as a downpayment for a house, you could instead have put the $ 25k you made (and were taxed on before putting the funds in your TFSA) in an RRSP pre-tax, and then used the full $ 25k for your downpayment.