A new savings tool is about to arrive, and combined with the Home Buyers' Plan you can save an even bigger down payment

The Canada Revenue Agency added a new provision to the Home Buyers’ Plan—the first\u002Dtime homebuyers can make a withdrawal from their RRSP

Home Buyer’s Plan With the HBP, you can withdraw up to $35,000 from your RRSP tax free. This is a great incentive for potential homeowners, but you have to repay yourself over 15 years, unlike the FHSA.

But when the legislation passed in December, that limitation wasn’t included. The Canada Revenue Agency confirmed that a prospective buyer can withdraw from their FHSA and RRSP with the Home Buyers’ Plan.Article content

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

nationalpost /  🏆 10. in CA

Canada Latest News, Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Ethereum’s bounce from $1550 encourages buyers, but is it a trap?Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion. The market structure was bearish on the 4-hour chart and strongly hinted at further losses. An imbalance above Ethereum prices meant a small bounce could arrive soon. Ethereum prices saw a rejection at the […]
Read more »

EOS sinks beneath the POC, but could the buyers force a reversal?Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion. The volume profile tool showed EOS has lost a critical support level. The filled imbalance showed demand could reverse the recent retracement. EOS has performed well in the markets and maintained its upward trajectory […]
Read more »

Ottawa says no plan to certify domestic rescue crews for international crisesInstead, according to statements from two federal departments, Canada is working to ensure its domestic teams have a standard certification to allow them to deploy for national assignments
Read more »

Average Toronto home prices just dropped by the steepest rate on recordAverage Toronto home prices continue to fall on a year-over-year basis, dropping a record-breaking 17.9 per cent between February of 2022 and Febru...
Read more »

Protect your home this spring with these 6 tips for thaw seasonWith some careful planning and preparation, you can protect your home and minimize the risk of any potential damage this spring.
Read more »