Year Two Of The FHSA: Your Contribution Room Depends On What You Did Last Year, And Even If You Contributed, You Don’t Have To Deduct The Contribution This Year

We’re now entering year two of the First Home Savings Account (FHSA). While there are still some details missing guidance, the government continues to provide clarity on qualifications and specific features of this new account type. Below are the details as we know them as of January 2024. High Level, you may qualify for an FHSA if you: Are a Canadian resident, Have a valid SIN, Are over the age of majority, Are under age 71, and Have not occupied a home that you...