CRA loses case as judge rules in favour of taxpayers' Home Buyers' Plan withdrawal timing
If you or a family member are thinking of buying your first home, there are three tax-advantaged savings programs that can help you come up with that initial down payment, reducing the amount you will need to borrow as a mortgage and potentially saving you thousands of dollars in interest costs. The three sources of tax-free down payment cash are, in my order of preference, the first home savings account (FHSA), the tax-free savings account (TFSA) and your registered retirement savings account (RRSP), accessed via the federal Home Buyers’ Plan (HBP).
