To open a First Home Savings Account, you must be: A Canadian resident 18 years or older2 A first-time home buyer3 How does an FHSA work? Annual contributions are capped at $8,000 up to a $40,000 lifetime contribution limit.
To help potential first-time home buyers, the federal government has introduced the FHSA (First Home Savings Account), a new tax-free registered plan where you can contribute up to $40,000 lifetime limit towards the purchase of a qualifying first home. To help you get more familiar with ...
To open a First Home Savings Account, you must be: A resident of Canada. At least 18 years old. A first-time home buyer. Younger than 71 in the year you open the account. You’re a first-time home buyer if you: Have not lived in a home you owned in the calendar year before op...
If you’re a first-time homebuyer and feeling overwhelmed by the process. Join tax expert Doug Carroll on March 20, for a 60-minute session where he will provide valuable tips to help you confidently navigate through your financial journey towards homeownership. Register Now Wednesday, March 20...
an individual is considered to be a first-time home buyer if at any time in the part of the calendar year before the account is opened, or at any time in the preceding four years, they or their spouse or common-law partner did not live in and own or jointly own a qualifying home....
Learn more about the CIBC Investment First HomeSavings Account Open your FHSA today Start saving for your first home, tax-free. Whether you’re looking for support or you’d prefer self-directed investing, we have options for you. How the FHSA helps first-time homebuyers ...
Work towards your goal of buying your first home with a First Home Savings Account (FHSA). The FHSA is a new registered planthat can help you save for your first home tax-free. If you’re at least 18 (and no less than the age of majority in your province), have a Social Insurance...
5An individual is considered to be a first-time home buyer if at any time in the part of the calendar year before the account is opened or at any time in the preceding four years they did not live in a qualifying home (or what would be a qualifying home if located in Canada) that...
4 Canada Mortgage and Housing Corporation MAKING THE OFFER So you've found the home that fits your budget, your lifestyle and your family. Now it's time to make it official by making an "Offer to Purchase". If you're using the services of a real estate agent, he or she will help ...
Finance Minister Chrystia Freeland has frequently celebrated the FHSA program as a big help for first-time homebuyers, even as recently as this week in the House of Commons when she accused the Conservatives of wanting to eliminate it. “They want to cut the First Home Savings Account that has...