Tag · Canada
FHSA
Loopholes Tagged "FHSA"
Plain-English guides to Canadian legal rights and workarounds related to FHSA.
Easy banking-and-credit
CDIC Deposit Insurance Stacking — Multiply Coverage by Using Separate Ownership Categories
CDIC insurance is not just $100,000 per person.
Easy renting-a-home
First Home Savings Account (FHSA)
The FHSA is the most powerful first-home savings tool ever created in Canada — combining the upfront tax deduction of an RRSP with the tax-free withdrawal of a TFSA — but many eligible Canadians have not yet opened one, and the contribution room you never open is contribution room you permanently lose.
Medium If You Own a Home
FHSA From RRSP Transfer — Move Existing Retirement Money Into an FHSA Without Using Cash Flow
You can move money directly from an RRSP into an FHSA without immediate tax, but the transfer uses FHSA room and does not create a new deduction.