Eligible Canadians can now enjoy the benefits of the newly introduced First Home Savings Account (FHSA) to save for a home. FHSA’s are poised to become popular because these plans combine the benefits of tax-deductible contributions with tax-free qualified withdrawals. Income earned and gains realized in an FHSA are tax-free. To be eligible to open …
Everything you need to know about the First Home Savings Account Read More »
The Underused Housing Tax (“UHT”) imposes a mandatory tax return filing obligation and potential tax liability on most owners of Canadian residential properties. A residential property generally refers to a detached house, duplex, triplex, semi-detached house, rowhouse unit, residential condominium unit or other similar premises containing a private kitchen, bath and living area. An owner of …
Understanding the new 1 per cent Underused Housing Tax Read More »
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