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What are the FHSA qualifying withdrawal rules?

The rules for the new Tax-Free First Home Savings Account (FHSA), which is meant to help first-time home buyers save for a down payment, are complex to navigate.

As we saw in a previous article, the definitions of “first-time homebuyer,” a “principal place of residence” and a “qualifying home” may not be intuitive. Further, there are key differences in the rules when a client withdraws from the FHSA to buy their first home. In the second in a two-part series, we dive into the FHSA withdrawal rules.

Click here to read the full article by Rudy Mezzetta, published by Investment Executive, featuring insights from Aaron Hector, Private Wealth Advisor.

Please note this article is on a third party platform and only available in English.

The preceding information is for educational purposes only. As it is impossible to include all situations, circumstances and exceptions in a newsletter such as this, a further review should be done by a qualified professional. No individual or organization involved in either the preparation or distribution of this letter accepts any contractual, tortious, or any other form of liability or its contents or for any consequences arising from its use.