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FHSA — First Home Savings Account

Protect Your Business and Families with Insurance

FHSA

Best for: First-time home buyers

The FHSA is a newer registered plan designed to help Canadians save for their first home by combining features of both RRSPs and TFSAs.

Key Features:

  • Contributions are tax-deductible
  • Investment growth and qualifying withdrawals are tax-free
  • Lifetime contribution limit applies
  • Funds can be withdrawn tax-free for a qualifying first home purchase
  • Can be transferred to an RRSP or RRIF if not used for a home

Why it matters: The FHSA offers unmatched tax efficiency for first-time home buyers.

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Featured Coverage Highlights

Michael Patel

“Thank you, Ashish and the PrimeLife team — easy process and great support!”

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