What is First Home Savings Account (FHSA)
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- First Home Savings Account (FHSA)
FHSA (First Home Savings Account)
- Helps first time home buyers to save towards their home purchases.
- Annual contribution limit is $8,000/- with lifetime limit of $40,000/-
- Qualifying withdrawals are tax free.
- Withdrawal is final, means, no need to payback.