You need to open a Tax-Free First Home Savings Account (FHSA). This will help you save towards your first home by allowing account holders to contribute up to $40,000.
To be eligible, you must be a Canadian resident, 18 years or older and a 1st time home buyer.
It's the same thing as a TFSA. All your contributions would be tax-deductible & withdrawals for purchasing a home would be non-taxable. The best part is that the funds do not need to be paid back.
This is a great opportunity for Canadian residents that are looking to be 1st time home buyers. If you are a 1st time homebuyer whose looking to get started, please give us a call and we'd be happy to get you the information.
Please like our video, subscribe to our channel and share this with your family and friends so we can help many home buyers with this information!
PJ @ 604-725-1258 | Razaik @ 604-537-8447 | email@example.com
Cheema Real Estate Group
Ready to SELL your home? Ready to BUY your new home? Ready to INVEST in a property? If you’re thinking of making a move anywhere in Surrey, Cloverdale, Langley, please feel free to reach out!