FHSA is a first-time home buyer's tax-free savings account designed to help Canadians save for a down payment and help reach the goal of home ownership.
Contributions are considered eligible if they meet the annual contribution limits, with individuals able to contribute up to $8,000 per year and a lifetime contribution limit of $40,000 over the FHSA’s 15-year lifespan.1 10. What types of investments can I hold in my FHSA? You can ...
Eligible Canadians can contribute, or transfer from their registered retirement savings plan (RRSP), up to $8,000 per year into their FHSA, up to a lifetime maximum of $40,000. If you contribute less than the $8,000 annual contribution limit, the unused contribution room would be added ...
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