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The introduction of the First Home Savings Account (FHSA) offers first-time home buyers a flexible new way to save for their purchase of a home. An FHSA has an annual contribution limit of $8,000 and a lifetime contribution limit of $40,000. It allows for tax-free growth, as well as tax deductions on contributions.
You won’t want to miss out on this contest – enter now!
Important dates:
Start date: May 1, 2024, at 2:00 p.m. ET
End date: June 30, 2024, at 5:00 p.m. ET
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†No purchase necessary. Fidelity Investments Canada FHSA Contest is open to residents of Canada who are the age of majority. Financial advisors and employees of Fidelity, among others, are excluded from the Contest. Void where prohibited. Starts May 1, 2024, at 2:00 p.m. ET and ends June 30, 2024, at 5:00 p.m. ET. One prize available to be won, consisting of a $8,000 CAD cheque to be used or invested at the winner’s discretion. Skill-testing question required. Odds depend on number of entrants. For full rules and entry details, please see the Official Contest Rules and Regulations.
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This information is for general knowledge only and should not be interpreted as tax advice or recommendations. Every individual’s situation is unique and should be reviewed by his or her own personal legal and tax consultants.