NEW First Home Savings Account for Canadian First Time Home Buyers
Tags: durham region real estate, bowmanville homes, bowmanville real estate, bowmanville realtors, bowmanville family homes, clarington real estate, first time buyer, rbc canada, first home savings account, first home saving plan, first time buyer plan
IMPORTANT INFO FOR FIRST TIME HOME BUYERS IN CANADA!
The first home savings account (FHSA) is a new registered account to help individuals save up to $40,000 on a tax-free basis to purchase their first home. In this podcast episode, I'm sitting down with Kelly Cooper, a Financial Planner at RBC in Courtice, Ontario.
CONTACT KELLY:
kelly.cooper@rbc.com
(905) 576-5173
CHAPTERS:
00:00 Introducing Kelly Cooper
01:10 What is the First Home Savings Account (FHSA)?
01:50 Maximum Contribution Limit
02:15 Expiry Date & What Happens if Time Runs Out
03:10 When You Can Withdraw & How
03:53 Can You Qualify if You've Owned a Home Before?
04:30 How it Works When Married or Marrying
04:49 Can You Withdraw Early?
05:17 Can Money be Transferred (Spouses, RSP)
06:12 What Happens in Case of Death
08:12 What If You Over-contribute to the Plan?
08:49 The Difference Between the First Time Home Buyers Plan and FHSA
10:44 Qualifications & Kelly's Advice
12:08 Recommended Book for Financial Advice
