Looking to buy your first home sooner?
The First Home Savings Account (FHSA) can help you get there faster. This Canadian savings plan for first-time homebuyers offers tax-deductible contributions and tax-free growth, making it easier to save for your first home.
An FHSA can hold a combination of eligible investments, such as mutual funds, stocks, bonds and ETFs *, Guaranteed Investment Certificates (GICs) and cash.
*a first-time homebuyer is someone who has not owned a home in which you lived in, any time in the preceding four calendar years.
Visit the CRA website to determine your annual contribution limit.
*Mutual funds and other securities are offered through Aviso Wealth, a division of Aviso Financial Inc. Commissions, trailing commissions, management fees, and expenses may all be associated with mutual fund investments. Please read the prospectus before investing. Unless otherwise stated, mutual funds, other securities, and cash balances are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer that insures deposits in credit unions. Mutual funds and other securities are not guaranteed, their values change frequently and past performance may not be repeated.
At Kingston Community Credit Union, eligible deposits in registered accounts have unlimited coverage through the Financial Services Regulatory Authority (FSRA). Eligible deposits (not in registered accounts) are insured up to $250,000 through FSRA.
A third party is an individual or entity, other than the account holder or those authorized to give instructions about the account, who directs what happens with the account. For example, if an account were opened in one individual’s name for deposits that are directed by someone else, the other person or entity would be a third party.
