Quote:
Originally Posted by ssjGoku69
First home purchase? Open up a First Home Savings Account (FHSA). You get the benefits of an RRSP with a tax deduction on contributions for your tax return and the benefits of a TFSA with no tax on withdrawal as long as it's for a first home purchase.
I think there are some redeemable GICs that were paying almost 5% annual interest last month, maybe less now. You could probably hold those within the FHSA. Talk to someone about the right investment type for you though.
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Yes I would be first time home buyer here and I'm looking out-of-province so I'm totally down with a low to no penalty when it comes to withdrawals. I have the funds as is to buy but still shopping and want more money to grow because why not.
Thanks