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Add First Home Savings Account (FHSA) for Canada

Hello,

Can you please add the First Home Savings Account (FHSA) for Canadians? This account is available for first time home buyers in Canada. It combines the benefits of the two existing types of accounts (TFSA and RRSP), meaning the contributions is tax deductible, and withdrawals to purchase a qualifying home will be non-taxable. The current limit is $8,000/year, with the lifetime maximum of $40,000 per person.

Related: www.canada.ca/en/revenue-agency/services/tax/individuals/topics/first-home-savings-account.html

14 votes

Tagged as Suggestion

Suggested 02 July 2023 by user Ye Huang

Moved into Planned 29 August 2023