THE 360 NEWSLETTER

As market and real estate prices continue to soar, many investors are likely to turn to the new First Home Savings Account (“FHSA”), which the Canadian government has recently rolled out to help first-timers save money to purchase a home.

The FHSA is a tax-advantaged registered account targeted at Canadians 18 years or older who have never owned a home or haven’t owned one in the past four calendar years. While the account is a bit of a misnomer since you technically don’t need to be a first-time homebuyer, the FHSA allows eligible Canadians to contribute up to a lifetime limit of $40,000.

Availability in Univeris – Client-name accounts

Many of you have asked us about the availability of the FHSA on our product shelf, so we are pleased to announce that we plan to make it available in Univeris in June 2023, for client-name accounts only. The exact date will be confirmed in the 360.

For the time being, we do not have a set target date for offering the FHSA in nominee accounts, but we will keep you informed of any new developments or changes in this regard.

New client article

To help introduce the FHSA to your clients, below you will find a new dealer-approved investor-facing article, which is also available on the Advisor Centre under the Marketing / Client Articles section:

New Tax-Advantaged Account for First-Time Homebuyers

Feel free to share this investor article with your clients and prospects by email, upon an upcoming meeting or via your websites and social media sites. If you have any questions about this article, please send an email to investia.marketing@investia.ca.