Saving money for your first home is easier than you think. Just open an FHSA now and you become a step closer to owning a home with your tax-free money.

FHSA

The FHSA is a savings plan for first-time homebuyers, allowing tax-deductible contributions up to $40,000 annually. Withdrawals for home purchase are tax-free, and unused funds can be transferred to an RRSP or RRIF without tax implications, combining features of TFSAs and RRSPs to support new homeowners.

Why should you consider opening an FHSA?

FHSAs provide substantial tax advantages through deductible contributions and tax-free withdrawals, granted they are utilized for home acquisition. For first-time homebuyers, an FHSA could provide an advantageous beginning in the pursuit of homeownership.

Contact us to join the contest!