Yes po you are eligible to open an FHSA as long as you are a first time home buyer. Hindi po related yung eligibility sa income at work. The first thing you could do is open this account para magsimula na kayong magccrrue ng contribution space. Once na back to work na po kayo pwede na kayo maghulog consistently every month.
Is it advisable pa rin po ba mag-open ng FHSA this year if may balak na kaming bumili ng bahay next year? (Just wanted to take advantage of the tax refund), pero baka mahirapan ma-withdraw kung wala pang 1 year?
100% yes! Kung may asawa po kayo, magbukas kayo parehas so you can maximize your tax savings!! Wala pong minimum holding period ang FHSA unlike homebuyers plan (HBP) ng RRSP, kaya even nagpaplano na kayong bumili ng bahay next year pwedeng pwede niyong itake advantage ang benefits ng FHSA as first time home buyers and sobrang smooth po ng withdrawal from FHSA. I've done it multiple times with my clients. If you open your FHSA before Dec 31 this year, you will get a total of $16k contribution space by next year, that's going to be a lot of tax savings for you!! If you need any assistance, feel free to send me an email to shielacabucol@gmail.com
newly subscriber here.. anytime po ba pwedeng mawithdraw yung mga naihulog mo sa FHSA? I am planing po mag open ng account, im new lang din po dito sa canada..
Happy to see you here! Yes you can withdraw the funds po anytime sa FHSA but it will only be free from tax kung gagamitin niyo yung pera sa pagbili ng first home niyo. If you use it for something else, then it will be taxable po. Watch my video po about TFSA (tax-free savings account) if you want a more flexible account. Hope that helps. :)
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Ang galing talaga! Sayang, too late nato para samin.
Wait nalang po ako sa HBP video nyo po :)
TIA!
Thank you khristian! I touched on a little bit about HBP sa part 2 of my RRSP video. If you have any questions ask kalang :D
Am I eligible for FHSA po kahit wala ako work? No income po ako. PR na po status namin.
Yes po you are eligible to open an FHSA as long as you are a first time home buyer. Hindi po related yung eligibility sa income at work. The first thing you could do is open this account para magsimula na kayong magccrrue ng contribution space. Once na back to work na po kayo pwede na kayo maghulog consistently every month.
Is it advisable pa rin po ba mag-open ng FHSA this year if may balak na kaming bumili ng bahay next year? (Just wanted to take advantage of the tax refund), pero baka mahirapan ma-withdraw kung wala pang 1 year?
100% yes! Kung may asawa po kayo, magbukas kayo parehas so you can maximize your tax savings!! Wala pong minimum holding period ang FHSA unlike homebuyers plan (HBP) ng RRSP, kaya even nagpaplano na kayong bumili ng bahay next year pwedeng pwede niyong itake advantage ang benefits ng FHSA as first time home buyers and sobrang smooth po ng withdrawal from FHSA. I've done it multiple times with my clients. If you open your FHSA before Dec 31 this year, you will get a total of $16k contribution space by next year, that's going to be a lot of tax savings for you!! If you need any assistance, feel free to send me an email to shielacabucol@gmail.com
newly subscriber here.. anytime po ba pwedeng mawithdraw yung mga naihulog mo sa FHSA? I am planing po mag open ng account, im new lang din po dito sa canada..
Happy to see you here! Yes you can withdraw the funds po anytime sa FHSA but it will only be free from tax kung gagamitin niyo yung pera sa pagbili ng first home niyo. If you use it for something else, then it will be taxable po. Watch my video po about TFSA (tax-free savings account) if you want a more flexible account. Hope that helps. :)