The Bâtirente FHSA is now available!

11 Sep 2024 | Your goals

The Bâtirente FHSA is now available!
Bâtirente has added the First Home Savings Account (FHSA) to its range of services in order to facilitate our members' financial autonomy and meet their various financial needs and objectives. This new registered plan that lets you save tax-free for a down payment on your first qualifying home.1 With the Bâtirente FHSA, you can invest your money in the same investment options available in your group. You can withdraw it at any time for the purchase of a first home. If it qualifies as an eligible withdrawal, it will be tax-free.2 Eligibility to open an FHSA account You can open an FHSA account now, but only if you meet all the following criteria:
  • You’re 18 or older (not more than 71 on December 31)
  • You’re a Canadian resident
  • You or your spouse or common-law partner didn’t own a primary residence you were living in the year before the account was opened or during the previous 4 calendar years
Find out more about the Bâtirente FHSA   1A qualifying home is a housing unit located in Canada. This includes existing homes and those being constructed. Single-family homes, semi-detached homes, townhouses, mobile homes, condominium units, and apartments in duplexes, triplexes, fourplexes or apartment buildings all qualify. A share in a co-operative housing corporation that entitles you to possess, and gives you an equity interest in a housing unit in Canada, also qualifies. However, a share that only provides you with a right to tenancy in the housing unit does not qualify. 2To make a non-taxable withdrawal from your FHSA, you must meet the conditions described in form RC725 Request to Make a Qualifying Withdrawal from your FHSA.

Bâtirente has added the First Home Savings Account (FHSA) to its range of services in order to facilitate our members’ financial autonomy and meet their various financial needs and objectives. This new registered plan that lets you save tax-free for a down payment on your first qualifying home.1

With the Bâtirente FHSA, you can invest your money in the same investment options available in your group. You can withdraw it at any time for the purchase of a first home. If it qualifies as an eligible withdrawal, it will be tax-free.2

Eligibility to open an FHSA account
You can open an FHSA account now, but only if you meet all the following criteria:

  • You’re 18 or older (not more than 71 on December 31)
  • You’re a Canadian resident
  • You or your spouse or common-law partner didn’t own a primary residence you were living in the year before the account was opened or during the previous 4 calendar years

Find out more about the Bâtirente FHSA

 

1A qualifying home is a housing unit located in Canada. This includes existing homes and those being constructed. Single-family homes, semi-detached homes, townhouses, mobile homes, condominium units, and apartments in duplexes, triplexes, fourplexes or apartment buildings all qualify. A share in a co-operative housing corporation that entitles you to possess, and gives you an equity interest in a housing unit in Canada, also qualifies. However, a share that only provides you with a right to tenancy in the housing unit does not qualify.

2To make a non-taxable withdrawal from your FHSA, you must meet the conditions described in form RC725 Request to Make a Qualifying Withdrawal from your FHSA.

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