My_question_is: Canadian-specific
Subject: Using RRSP for Real Estate Investment.
Expert: taxman at centa.com
Date: Wednesday April 26, 2006
Time: 02:42 PM -0700
QUESTION:
Hi David,
I'm wondering if there is a way of using RRSP money to purchase a Real
Estate for Investment (i.e. as a down payment) and don't pay taxes on this
amount (when you took those money out of RRSP)???
Thanks in advance,
-----------------------
david ingram replies:
There is no method of using RRSP money to buy investment real estate as your
own fee simple property without paying tax on the withdrawal. However, I
can usually make an argument that it is a good idea to take the money out
and pay the tax and use the remainder as your down payment.
There are some real estate investments that you can buy with your RRSP money
but they are not ones that you will control.
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