Community FAQ
Should I use FHSA or RRSP to save for my first home down payment?
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The FHSA should be a top priority for first-time homebuyers. It blends RRSP and TFSA benefits with tax-deductible contributions and tax-free qualifying withdrawals for a first home, with a lifetime limit of $40,000. It offers better tax efficiency than saving in a TFSA or RRSP for a down payment.
Answered by Shannon Neely, Shannon Neely Financial.