First Home Savings Account
Wednesday May 31st, 2023
ShareTaking a closer look at the First Home Savings Account The currently proposed plan is that starting in 2023, the new FHSA will allow Canadians who are at least 18 to save up to $40,000 for their first home. If eligible, you can contribute up to $8,000 each year to the account but (and there's always a but, right?) you have to use these funds within 15 years of first opening an FHSA or before you turn 71 (whichever is earlier), otherwise the account would have to be closed. This... [read more]