First Time Home Buyer Incentive–The government introduced theFirst Time Home Buyer Incentiveto help first-time owners with their downpayment, as long as they share ownership and any earnings when they sell their home. In exchange for home equity, the government will contribute 5% or 10% of th...
Home Buyers’ Plan and giving your home buying budget even more juice. But because of the FHSA’s annual contribution limits, it’ll take time to grow your account’s balance. That may not be helpful if your RRSP is already well funded and you’d like to buy a home sooner than later...
Like an RRSP, contributions will generally be tax-deductible, meaning they could potentially reduce the amount of tax you pay when it's time to file your income taxes. Similar to TFSA withdrawals, when a qualifying withdrawal is made from your FHSA to purchase a qualifying home, the amount w...