Qualified Canadians transfer their current RRSP funds on a tax-free basis to a new RRSP. The new RRSP then invests the funds in a Canadian Mutual Fund Trust called the “SeaPort Vacation Fund Trust”. This Mutual Fund Trust is a qualified investment under the RRSP Tax Regulations.
The Trust engages in the business of making consumer loans to creditworthy Canadians to finance the purchase of Vacation Memberships and Vacation condos and villas.
You may obtain an Offering Memorandum directly from an authorized Securities Dealer licensed in Canada. The Securities Dealer can answer your questions regarding an investment in the Mutual Fund Trust.
Vacation Loans will only be made to creditworthy Canadians for the sole purpose of purchasing a Vacation Product from one of our partner developer in Mexico or the Caribbean.
No. Returns earned within your RRSP must remain inside of your RRSP to retain tax deferred status. If you withdraw any funds from your RRSP, the Trustee will levy withholding tax and the amount withdrawn must be added to your taxable income.
If you have not purchased a Retirement Savings Protection Plan (“RSPP”) you will be required to make monthly blended payments of principal and interested. These payments may be amortized for up to 20 years for qualified Canadians.
If you have RRSP protection, you have the option of making interest only payments until the maturity of the Vacation Loan
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