While RRSPs are primarily used to save for retirement, if you are a first time home buyer you may withdraw funds from your RRSP to help with the down payment on a qualifying home through theHome Buyers' Planor to fund your education through theLifelong Learning Plan1. ...
The funds transferred to an RRSP or RRIF will be taxed upon withdrawal. You must be a first-time homebuyer and a resident of Canada at the time of the withdrawal for the acquisition of your qualifying home. A "qualifying home" is defined as a housing unit located in Canada. It also in...
To be eligible to open a FHSA, you need to be a Canadian resident, 18 years or older, and a first-time home buyer.[3]In the context of opening an FHSA, 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 ...
I knew I was supposed to be investing but had no idea where, how or in what. I first read about the TD e-Series index funds in Andrew Hallam’s Millionaire Teacher. At the time, I thought that there was
The funds transferred to an RRSP or RRIF will be taxed upon withdrawal. What is a qualifying withdrawal? You must be a first-time homebuyer and a resident of Canada at the time of the withdrawal for the acquisition of your qualifying home. A "qualifying home" is defined as a housing uni...