First Home Savings Account (FHSA): What You Need to Know

/in , /by

Are you looking to buy your first home in Canada? The First Home Savings Account (FHSA) could help make it happen. This savings plan allows first-time home buyers to save up to $40,000 tax-free, with contributions being tax-deductible. In this article and infographic, we cover everything you need to know about FHSA, including eligibility requirements, contributions and deductions, qualifying investments, withdrawals, and transfers.

Read more

Extended COVID-19 Federal Emergency Benefits

/in , , , , /by

On Friday, February 19, 2021, Prime Minister Justin Trudeau announced an extension to:

– Canada Recovery Benefit
– Canada Recovery Caregiving Benefit
– Canada Recovery Sickness Benefit
– Employment Insurance

Read more

Self-employed: Government of Canada addresses CERB repayments for some ineligible self-employed recipients

/in , , , /by

Great news for some ineligible self-employed Canadians who received the Canada Emergency Response Benefit (CERB)

Read more

The information provided above is solely for general and educational purposes and is based on the perspectives and opinions of the owners and writers. It is provided with the understanding that it may not be relied upon as, nor considered to be, the rendering of tax, legal, accounting, or professional advice. Please consult an appropriate professional regarding your particular circumstances. This site may also contain links to other sites which are not maintained or controlled by us. Access to or use of sites to which links are provided are subject to the terms and conditions of such sites. References to third party goods or services should not be regarded as an endorsement of those goods or services. All information provided is believed to be accurate and reliable, however, we cannot guarantee its accuracy. Worldsource Financial Management Inc. will not be held liable for any inaccuracies in the information presented.