{"id":1765,"date":"2023-10-25T10:40:21","date_gmt":"2023-10-25T14:40:21","guid":{"rendered":"https:\/\/lucynefarand.com\/?p=1765"},"modified":"2024-05-02T12:15:06","modified_gmt":"2024-05-02T16:15:06","slug":"le-celiap-est-il-avantageux-pour-les-premiers-acheteurs-oui-sans-equivoque","status":"publish","type":"post","link":"https:\/\/lucynefarand.com\/en\/nouvelles\/le-celiap-est-il-avantageux-pour-les-premiers-acheteurs-oui-sans-equivoque\/","title":{"rendered":"Is the FHSA advantageous for first time buyers?  Unequivocally YES!"},"content":{"rendered":"<p>Many first time buyers question whether the \u2018FHSA\u2019 is advantageous for them<\/p>\n<p>so I have taken this opportunity to highlight certain points that will help clarify<\/p>\n<p>the benefits.<\/p>\n<ul>\n<li>In a nutshell it allows each spouse to create his \/ her own FHSA and to<\/li>\n<\/ul>\n<p>contribute individually up to $8,000 a year, for a total limit of $40,000.<\/p>\n<ul>\n<li>It is tax deductible just like an RRSP but it is totally exempt from taxes<\/li>\n<\/ul>\n<p>upon withdrawing for the purchase of a first home.<\/p>\n<ul>\n<li>You can use the FHSA funds in the same way allowed in your RRSP. You<\/li>\n<\/ul>\n<p>can use the funds towards the purchase of any type of residence, condo,<\/p>\n<p>duplexes, new house, existing house etc.<\/p>\n<ul>\n<li>To be eligible, you must be over 18 and under 71, and have not owned<\/li>\n<\/ul>\n<p>jointly or individually a house in the last 5 years.<\/p>\n<ul>\n<li>It is a great program because your capital and its growth are tax-free as long<\/li>\n<\/ul>\n<p>as you use them to purchase a home. If you decide not to purchase, you can<\/p>\n<p>transfer the funds to your RRSP, regardless of your contribution room.<\/p>\n<ul>\n<li>You will have to close the FHSA account after 15 years or before you reach 71.<\/li>\n<\/ul>\n<p>The way I look at it, it is a great way to save for a home for qualifying<\/p>\n<p>purchasers, plus you can still use your RRSP, if you need more cash for the<\/p>\n<p>purchase.<\/p>\n<p>Lucyne FARAND courtier immobilier 514 952-6316 \/ Email: lfarand@royallepage.ca<\/p>","protected":false},"excerpt":{"rendered":"<p>Many first time buyers question whether the \u2018FHSA\u2019 is advantageous for them so I have taken this opportunity to highlight certain points that will help clarify the benefits. In a nutshell it allows each spouse to create his \/ her own FHSA and to contribute individually up to $8,000 a year, for a total limit [&hellip;]<\/p>\n","protected":false},"author":724,"featured_media":1840,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[5,3],"tags":[],"class_list":["post-1765","post","type-post","status-publish","format-standard","hentry","category-news","category-nouvelles"],"acf":[],"_links":{"self":[{"href":"https:\/\/lucynefarand.com\/en\/wp-json\/wp\/v2\/posts\/1765","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lucynefarand.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lucynefarand.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lucynefarand.com\/en\/wp-json\/wp\/v2\/users\/724"}],"replies":[{"embeddable":true,"href":"https:\/\/lucynefarand.com\/en\/wp-json\/wp\/v2\/comments?post=1765"}],"version-history":[{"count":1,"href":"https:\/\/lucynefarand.com\/en\/wp-json\/wp\/v2\/posts\/1765\/revisions"}],"predecessor-version":[{"id":1766,"href":"https:\/\/lucynefarand.com\/en\/wp-json\/wp\/v2\/posts\/1765\/revisions\/1766"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lucynefarand.com\/en\/wp-json\/wp\/v2\/media\/1840"}],"wp:attachment":[{"href":"https:\/\/lucynefarand.com\/en\/wp-json\/wp\/v2\/media?parent=1765"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lucynefarand.com\/en\/wp-json\/wp\/v2\/categories?post=1765"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lucynefarand.com\/en\/wp-json\/wp\/v2\/tags?post=1765"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}