Unexpected turns in the road keep life interesting. But when it comes to an unexpected job loss or a leaky roof, it’s really no fun at all. To be prepared for whatever life might throw your way, it’s a great idea to have an emergency fund. So keep this in mind: the more you set aside, the easier it will be to get back on your feet when life throws a curve ball.
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.
What are the FHSA eligibility requirements? What is the FHSA contribution limit? Can I use both the FHSA and the HBP to buy a first home?
Here are answers to some of the most frequent questions about the FHSA.
Bâtirente has added the First Home Savings Account (FHSA) to its range of services in order to facilitate our members’ financial autonomy and meet their various financial needs and objectives. This new registered plan that lets you save tax-free for a down payment on your first qualifying home.
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. In other words, we have two plans with two different sets of goals. Choose the one that best suits your needs and goals or combine them to maximize their benefits.
