FHSA Explained

Explore the FHSA, the ultimate choice for first-time homebuyers in Canada, combining tax benefits and flexible contribution limits. Discover the potential savings and refunds, seize the opportunity to deduct contributions, and make the most of tax-free income growth within the account. Uncover the key details, including the yearly contribution limit of $8,000 per person and a lifetime maximum of $40,000. Don’t miss the December 31, 2023, deadline for contributions. FHSA empowers individuals like Harpreet to save for their dream home while enjoying significant tax advantages.