The Triple Benefits of FHSAs — Use One If Saving For a Home

Dave and Brian Orlando discuss why the FHSA offers a rare “triple benefit” for first-time home buyers.

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The FHSA, is it not one of the greatest things you’ve ever seen?

It is. It’s amazing. There’s a triple benefit. You get the tax advantage going in, you get a tax shelter, and you get a tax advantage coming out. I mean, truly, if you could use it for things other than a home, it would, it would win outright compared to everything.

No, it is, it is the best of the accounts we’ve ever seen in Canada for people who can qualify for it. There’s just no doubt about that. As I’ve said, it’s the best of the RRSP with the best of the TFSA. Like, it’s like their love child has come together and is an IQ of 160 and a great athlete. I mean, this whole thing is perfect.