What is an FHSA?

A First Home Savings Account (FHSA) is a registered account that allows first-time home buyers to save for their first home tax-free. Contributions are tax-deductible (similar to an RRSP), and qualifying withdrawals are not taxable (similar to a TFSA).

An FHSA can hold the same qualified investments that are currently allowed to be held in a TFSA.

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