Posted on: 22-03-06 13:34:46
Quote:
Originally posted by dimple2001
When I take a RRSP loan, am I not taking a certain $ amount from my existing RSP account? Following that, am I not repaying the loan to myself to my own existing RSP account?
I think you are talking about RRSP withdrawals allowed for payment of down payment for a first-time buyer. I am not sure about the rules as I have not done it. But my understanding is that Govt. allows you to withdraw certain RRSP amounts without payment of taxes, to use for down payment towards home purchase for first-time buyer. There are certain conditions to do so. If you do withdraw from RRSP, you need to make up that amount over future period (15 yrs if I am not mistaken)
Quote:
Originally posted by dimple2001
Quote:
Originally posted by transmogrifier
Interest defintiely going to "lala" land and making the "lala" who lending the money rich.
Ekdum liking that, yaar! Inadvertent khel on words. Yaan, it was planned?
But it is RRSP loan u r talking about yaan normal non-registered loan? Apun having one using Smith manoeuvre to write off interest on mortgage, but same type of can be used to pay off car lease yaan car loan.
Unfortunately, I do not understand hindi and I have to guess your writing which I do sometimes (but honestly, most times, I simply ignore your posts).
Having said that, thanks for the compliment on the use of words. "Lala land" is a loose term used in english to describe a non-existent location, something like utopia. That's what I meant.
Nahin, nahin. I would not never have guessing "lala land" to meaning what you tolding it meaning.
Arey just joking apun quite familiar with term no need of explaining. Aur apun Hindi not using. Kyun desecrating Hindi by tolding apun using it?
Chal, enjoy
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hinglish zindabad
