Anna Le
Activity overview
Latest activity by Anna Le-
Anna Le created an article, What are promissory notes?
Promissory notes are non-qualified investments that are not eligible to be held in registered accounts. An investment could potentially offer promissory notes or any other debt instruments as a res...
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Anna Le created an article, Do I hold a prohibited investment?
For registered plans, a prohibited investment is generally an investment to which you are closely connected. Examples include: Shares of a company, trust, or partnership in which you have a signif...
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Anna Le created an article, When will Olympia send me a statement?
Each year, Olympia will send you a statement of your account(s) by the end of January. Your statement will be uploaded to your Client Portal and you will be notified via email that it is available ...
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Anna Le created an article, What is the Annual Administration Fee for a FHSA?
For the remainder of 2023, there is no cost to open an FHSA account with Olympia. Starting January 1, 2024, the Annual Administration Fee is $100 plus tax.
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Anna Le created an article, When will I receive my FHSA tax documents?
For your FHSA, a T4FHSA is issued in February each year to report all contributions, withdrawals, transfers from an RRSP, and designated transfers to an RRSP or RRIF.
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Anna Le created an article, How do I make a contribution to my FHSA?
The following options are available: Log into your Client Portal here or mobile app. Complete a Fee Payment & Contribution form found here and email to operations@olympiatrust.com. A T4FHSA will...
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Anna Le created an article, When are contributions tax deductible?
Contributions made to an FHSA are tax deductible for the calendar year in which they are made. You will receive a tax receipt for contributions and there is no First 60 Days provision.
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Anna Le created an article, How do I close my FHSA?
If you do not use the funds to buy a home and you have reached the maximum time that your FHSA can remain open, you can either: Make a taxable withdrawal. The amount withdrawn will be added to you...
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Anna Le created an article, How long can my FHSA stay open?
To avoid potential tax consequences, your FHSA must be closed by December 31 of the year in which one of the following events occur: Your first FHSA reaches its 15th anniversary. You turn 71 years...
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Anna Le created an article, Can I withdraw funds if I’m not purchasing a home?
Yes, you can withdraw from your FHSA at any time, subject to withholding tax. The amount withdrawn will be added to your taxable income for the year. FHSA contribution room is not reinstated.