The First Home Savings Account lets first-time buyers save up to $40,000 tax-free for a down payment. Combine it with the Home Buyers' Plan for up to $100K. These guides cover eligibility, strategies, and how to get started on Wealthsimple.
The CRA's 'first-time buyer' rule is about where you lived, not what you owned. Four scenarios — from common-law to inherited cottages — where the answer surprises most Canadians.
Opened an FHSA but life changed? The RRSP rollover turns your contributions plus growth into bonus retirement room — and non-residents can keep contributing until the 15-year window closes.
Carry-forward timing, deduction deferral math, and the HBP repayment catch — how to actually execute the FHSA + HBP strategy without leaving money on the table.
Start the carry-forward clock with a $0 deposit, defer deductions to a higher bracket, and use the RRSP exit if you never buy. The mechanics most guides skip.
Opening a new Wealthsimple account? Use a referral code to get a $25 cash bonus on your first deposit.