If you're a Canadian looking to save for your first home, you'll definitely want to pay attention to this. Starting on April 1, 2023, the first home savings account will become available to eligible Canadians. In this video, we cover everything you need to know about the First Home Savings Account (FHSA), including its features, eligibility requirements, comparison to the Home Buyer’s Plan (HBP) and more. UPDATE I wanted to clarify that there has been revised legislation so you can now withdraw from both your FHSA and RRSP (originally the government said you couldn't): "You can withdraw amounts from your RRSP under the Home Buyers’ Plan (HBP) and make a qualifying withdrawal from your FHSA for the same qualifying home, as long as you meet all of the conditions at the time of each withdrawal." according to 00:00 Intro 00:20 What is a FHSA 01:40 Eligibility 02:48 What does my money do in a FHSA 03:22 Contributions 04:22 Buying your First Home (Qualifyin...
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