In CRA’s words, you are considered a first-time home buyer if: … you did not, at any time in the current calendar year before the account is opened or…
Read more Can I still use my FHSA after my spouse bought a condo? – MoneySenseEarlier this year, the HBP got a significant makeover. Here’s what’s new about the HBP, plus how you can use it together with other savings tools: a first…
Read more How changes to the Home Buyers’ Plan could affect your down payment – MoneySenseThe credit lets home owners claim 15% of the renovation cost up to a maximum of $50,000, potentially allowing them to subtract as much as $7,500 from their…
Read more Tax changes to know about for 2023, from home offices to house flipping – MoneySenseThe Canadian federal government eliminated the accumulation of interest on Canada Student Loans, as of April 1, 2023, but you must still pay any interest accrued before then.…
Read more How much money should I have saved by age 25? – MoneySenseReturn to top. Prepping your taxes, including the 2022 tax brackets Even if someone else does your taxes, you still have some prep to do. You will have…
Read more 2022 Income Tax Guide for Canadians: Deadlines, tax tips and more – MoneySenseFortunately, there are a number of ways to save for a down payment on your first home, including the first home savings account (FHSA). This registered account was…
Read more Your FHSA timeline: What to invest in and when – MoneySense
