Tax Free First Home Savings Account Archives

Navigating the Tax-Free First Home Savings Account: A Perspective for Wealthier Canadians and Family-Owned Businesses

December 12, 2023
Nizam Shajani, Partner, LLM, CPA, CA, TEP, MBA
Accounting, Finances

The introduction of the Tax-Free First Home Savings Account by the Canadian government is a notable development, particularly advantageous for wealthier Canadians and family-owned businesses. As a CPA and tax law expert, I perceive this initiative not just as a…

January 12, 2023
Nizam Shajani, Partner, LLM, CPA, CA, TEP, MBA
Tax Planning

The tax-free first home savings account will commence in 2023. Draft legislation was introduced in November 2022 with anticipated in force date of April 1, 2023. This plan provides excellent tax incentives, with deduction for contributions and tax-free withdrawals. The…

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