The Tax-Free First Home Savings Account (“FHSA”) explained
[Invis - May 5, 2022] If you or someone you know is saving for a downpayment on their first home, the Federal government announced a new program aimed at first-time buyers in their recent budget. The First Home Savings Account combines the features of an RRSP and TFSA to give prospective homeowners some tax relief and a boost toward their homeownership goals. Here are the highlights: Account holders can contribute up to $8,000 annually, up to a lifetime maximum of $40,000. [...]