An overview by Borden Ladner Gervais
On August 9, 2022, the Government of Canada introduced draft legislation for the tax-free First Home Savings Account (FHSA). The FHSA, which combines features of an RRSP and a TFSA, will provide Canadians under age 72 the ability to contribute up to $40,000 on a tax-free basis towards the purchase of a home.
Pamela L. Cross and Grace Pereira, Partners at our Canadian firm Borden Ladner Gervais, provide a detailed analysis of the draft legislation and its implications.
Read the full article here.
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