An RRSP is a tax-deferral tool that helps you save for retirement. A TFSA is a savings tool that you can also use for retirement, as well as the other projects you have going on. An FHSA is a tax saving tool that helps you save towards the purchase of your first home. In other words, we have three plans with three different sets of goals.
Wondering if you’re eligible for the FHSA? How much you can contribute? And most importantly, whether you can combine it with the HBP to maximize your down payment? Good news—we’ve got all the answers!
Find out the most frequently asked questions to make the most of your FHSA.
At Bâtirente, we’re focused on providing solutions tailored to your needs and your retirement savings projects. What’s more, we know that you need information and practical tips to optimize your savings, reach your retirement goals or even be prepared to deal with life events. That’s why we’re constantly improving our range of online services. Discover them now!
The First Home Savings Account (FHSA) is an attractive savings solution that helps facilitate access to homeownership. Contributions to the plan are deductible, earnings grow tax-free, and withdrawals are not taxed if you are considered a first-time home buyer for an eligible property. Whether or not you are a first-time buyer, it is important to review the different eligibility criteria to see if you are entitled to open an FHSA.
Consolidating means bringing all your savings together in one place, and there are many advantages to doing so: lower management fees, access to a diversified, high-performance range of investments or having a complete picture of your assets at a glance.
Summertime has finally arrived! This is the perfect time to take a moment to think about your short-, medium- and long-term projects! Considering a move or renovations? Do you want to build an emergency fund? Have you reached a point in your life where you are thinking about moving up your retirement plans? Whatever your situation, you can keep track of all your projects by completing these 4 steps this summer.