The Equitable Life FHSA is coming!

The Equitable Life FHSA is coming!

We want to help clients save money for their first home.  We’re working on offering the Equitable Life® First Home Savings Account!

A First Home Savings Account (FHSA) is a registered plan allowing prospective first-time home buyers to save for their first home tax-free (up to certain limits). 

  • Must be a Canadian resident
  • Minimum of 18 years of age
  • Annual contribution limit of $8,000 with a lifetime limit of $40,000
  • Contributions are tax deductible (like an RRSP)
  • Qualifying withdrawals are tax-free (like a TFSA)
  • Must be a first-time home buyer (has not owned a home in which they lived during the current or preceding four calendar years)
  • Unused FHSA proceeds can be transferred on a tax-deferred basis to an RRSP or RRIF
We’ll be sure to keep you posted when the FHSA is available with Equitable Life.

For more information contact your Regional Investment Sales Representative.

Date posted: April 11, 2023
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