Your first home
starts with a plan.
An FHSA gives eligible first-time home buyers a dedicated way
to save toward a down payment while taking advantage of
valuable tax benefits.
Save for your first home without paying tax on qualifying withdrawals.
Money you contribute can qualify for a tax deduction,
and the money in the account can earn interest tax-free.
When qualifying savings are withdrawn for a first-home
down payment, you don’t pay tax on those withdrawals.
WHY IT MATTERS
A home-buying goal with a place to grow.
The FHSA can help turn regular savings into a dedicated
first-home fund.
Save
Start putting money aside specifically for your
first home — even as little as $25 per month.
Grow
Your money can earn interest tax-free. Investment
choices can include daily-interest savings options
for people who prefer a more conservative approach.
Use
Qualifying FHSA savings can be withdrawn for a
first-home down payment without paying tax on
the qualifying withdrawal.
MADE FOR REAL-LIFE PAYCHEQUES
Your schedule doesn’t have to stop you from saving.
Whether you’re working shifts, earning tips, working
variable hours or building your career in retail or
hospitality, you can start with an amount that fits
your budget.
Start small. Build the habit.
- Start with as little as $25 per month.
- Increase your contributions as your income grows.
- Build a dedicated fund for your first home.
- Choose an investment option that fits your comfort level.
KNOW THE NUMBERS
Your FHSA at a glance.
FHSA BASICS
Could an FHSA be right for you?
Eligibility depends on your individual circumstances
and the applicable FHSA rules.
- You are a Canadian resident.
- You have a Social Insurance Number.
- You meet the applicable age requirements.
- You meet the first-time home buyer requirements.
ANOTHER ADVANTAGE
You have options.
The FHSA can be used in combination with the
First-Time Home Buyers’ Plan, which uses RRSP savings
toward a home purchase.
If you don’t use the FHSA savings for a home purchase,
the funds can be transferred to an RRSP under the
applicable rules.
HOW IT WORKS
Three simple steps.
Gregg can walk you through the process and help you
understand your options.
Get started
Connect with Gregg to review your situation
and complete the FHSA application.
Contribute
Start with an amount that works for your budget.
You can begin with as little as $25 per month.
Build toward your home
Your savings can earn interest tax-free, and
qualifying withdrawals can be used toward your
first-home down payment without tax.
READY TO GET STARTED?
Let’s talk about your first-home goal.
It takes about 30 minutes to go through everything
and get set up with a First Home Savings Account.
Gregg can help you over the phone, through Zoom,
at your workplace, or at a coffee shop.
LET’S TALK ABOUT YOUR FIRST HOME GOAL
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