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How to Use the First Home Savings Account (FHSA) in Canada
The FHSA combines RRSP-style tax deductions with TFSA-style tax-free withdrawals, helping Canadians save up to $40,000 for their first home purchase.
Ethan Murray
Author
RRSP and TFSA specialist helping Canadians optimise registered account contribution room, understand the Home Buyers Plan (HBP) and Lifelong Learning Plan (LLP), and choose between GICs and ETFs.
- rrsp
- tfsa
- investing
- retirement
Published articles
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TFSA Rebalancing for Q4: Adjusting Your Portfolio Before Year-End in Canada
Learn how to rebalance your TFSA portfolio before year-end to maintain your target asset allocation and position yourself for the new contribution year.
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First-Time Home Buyer Guide for Canada: FHSA, RRSP HBP, and the Mortgage Stress Test
Discover the three essential tools for first-time home buyers in Canada: the FHSA, RRSP Home Buyers' Plan, and how to prepare for the mortgage stress test.
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Should I Pay Off My Mortgage or Maximize My RRSP Contributions in Canada
Learn how to decide between accelerating mortgage payments and maximizing RRSP contributions by comparing tax savings, investment returns, and your personal financial timeline.
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CRA My Account vs. Traditional Methods: Managing Your Taxes and Benefits in Canada
Compare online CRA My Account with phone, mail, and in-person services to choose the fastest, most convenient way to manage your Canadian taxes and benefits.
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TFSA Investment Strategies in Canada: Beyond the Savings Account
Unlock the full potential of your Tax-Free Savings Account by exploring investment options beyond basic savings accounts, from ETFs and stocks to bonds and REITs.
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How GICs Work in Canada and When They Beat a High-Interest Savings Account
Learn how Guaranteed Investment Certificates work, how they compare to high-interest savings accounts, and when to choose each for your Canadian savings strategy.
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Balance Transfer Cards in Canada: Weighing the Fee Against the Interest Saved
Balance transfer credit cards can help Canadians pay down debt faster, but the upfront fee only makes sense when the interest savings exceed the cost.
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Financing a Car Versus Paying Cash in Canada: The Full Arithmetic
When you buy a car, the choice between financing and paying cash is not just about whether you have the money. The real question is which option costs less when you account for loan interest, opportunity cost, and what else you could do with your cash.
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Index Funds Versus Actively Managed Funds in Canada: What the Fee Buys
Index funds charge 0.05-0.25% while active funds charge 1.5-2.5% or more. Understand what you're paying for and whether the premium delivers value for Canadian investors.
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RRSP vs. TFSA: Which Registered Account to Contribute to First in Canada
Deciding between RRSP and TFSA contributions depends on your income, tax bracket, and financial goals. This guide breaks down the key factors to help you prioritize your registered account contributions.
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FHSA vs RRSP vs TFSA for Your First Home in Canada
Compare the First Home Savings Account against RRSP and TFSA strategies to find the best tax-sheltered approach for your first home down payment.
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Maximizing Your RRSP Contribution Room Before the March Deadline in Canada
Learn how to make the most of your RRSP contribution room before the CRA's annual deadline and reduce your tax bill.
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RRSP vs. TFSA in Canada: Which Account Should You Contribute to First?
Choosing between an RRSP and a TFSA depends on your income, tax bracket, and financial goals. Here is how to decide which registered account deserves your contributions first.
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RRSP Home Buyers' Plan: A Complete Guide for First-Time Buyers in Canada
The Home Buyers' Plan lets eligible Canadians withdraw up to $35,000 from their RRSP tax-free to purchase or build a qualifying home, with 15 years to repay.
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How GICs Work in Canada and When They Beat a High-Interest Savings Account
Learn how Guaranteed Investment Certificates work, how they compare to high-interest savings accounts, and when to choose each for your Canadian savings strategy.
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Basic Personal Amount and Common Tax Credits in Canada: How They Reduce Your Tax Bill
Learn how the Basic Personal Amount and non-refundable tax credits reduce your federal and provincial income tax, with a clear explanation of the calculation and a worked example.
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This Week's Highest Savings Account and GIC Rates in Canada
Top Canadian savings rates are still competitive, but the best offers depend on whether you need daily access or can lock in a GIC. Here is what to compare this week.
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What Wealthsimple's Transfer Fee Push Means for Investors in Canada
Wealthsimple wants Ottawa to look at investment transfer fees, arguing that Canadians should be able to move accounts without being penalized. Here is what the issue means for RRSP, TFSA, and taxable investors.
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Why More Canadians May Favour TFSAs Over RRSPs in Canada
A poll suggesting Canadians are leaning toward TFSAs over RRSPs points to a real planning question. The better account depends on income, tax rate, savings goal, and withdrawal timing.
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10 Best Gold ETFs in Canada for 2026
Gold ETFs can give Canadian investors exposure to bullion or gold mining stocks without storing coins or bars. The right choice depends on whether you want direct gold price exposure, Canadian-dollar trading, income, or higher-risk miner exposure.
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How to Maximize Your TFSA Contribution Room Before Year-End in Canada
Mid-year is the perfect time to review your TFSA strategy and make the most of your contribution room before December 31.