FHSA
The First Home Savings Account (FHSA) combines the best benefits of RRSP and TFSA, making it an essential tool for first-time homebuyers.
Welcome to Your Path to Homeownership with FHSA
- Annual contribution limit: $8,000; lifetime limit: $40,000.
- Tax-free investment growth and withdrawals for home purchases.
- Option to transfer unused funds to RRSP or RRIF tax-free.
- Designed for Canadian residents, including new citizens and first-time buyers.
FHSA Benefits for You
Contributions reduce taxable income like RRSP, and withdrawals for home purchases remain tax-free like TFSA.
All investment gains within the FHSA are tax-sheltered
Unused funds can transfer to an RRSP or RRIF tax-free for continued financial growth.
Offers a more tax-efficient alternative than the Home Buyers’ Plan (HBP).
How GM Finance Can Help
Why FHSA with GM Finance?
Personalized advice to navigate FHSA rules and optimize your contributions
Secure and trusted investment options to ensure your funds are protected
Ongoing assistance for transfers, withdrawals, and maximizing tax benefits
Get in Touch with Us
At GM Finance, we’re here to assist you every step of the way in your financial journey. Whether you have questions about investments, insurance, or tax-saving strategies, our team of experienced consultants is ready to provide the guidance and support you need.
+1 (514) 219-7997
gmvlogs7000@gmail.com
gaurav.mudekar.com
Port Elgin, ON, Canada
