First Home Savings Account (FHSA) Introduced in 2023, theFHSAis a tax-advantaged account that enables first time home buyers to save for a down payment. Like the RRSP, contributions and interest/investment earnings are deferred until you withdraw the funds. There are contribution limits and time...
Gifting money can involve more than giving the cash. Lenders may ask for a gift letter that confirms the money is not a loan that needs to be repaid. If the gifter needs to sell investments to make the contribution, there may be tax consequences if those assets have appreciated and r...