You plan buying a house in Canada. Where do you save the down payment today? In your savings account? Or checking? The First Home Savings Account (FHSA) offers benefits for the purpose of buying your first home. 1. When you contribute this year it reduces what you pay in taxes because it’s TAX-DEDUCTIBLE. 2. When you withdraw from it for the purpose of purchasing your first home, you pay ZERO TAXES on your capital gain. These two benefits are unique and shouldn’t be swept under the rug. I help people understand this better. DM for help. #InvestingInCanada #FHSA #investingforbeginners
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TheInvestIQ @invest_iq · 2d
I’ve had several conversations with people in our community recently, I see a lot of opportunities in financial education. Anyway, do you plan buying a home in Canada OR you belong to team ‘Nope I’m going back home at retirement’ ?
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