What happens if I exceed my FHSA limit?

For First House Savings Account (FHSA) there is a 1% per month on over-contribution amount assessed by CRA. The tax payable would continue until the excess FHSA is eliminated…

An "early" withdrawal is generally one taken before age 59½ in a traditional IRA or within the first five years of a Roth IRA. In addition to the amount added to your income, the IRS may assess an additional 10% penalty. You should consult with your tax advisor regarding the tax consequences…

A First Home Savings Aaccount (FHSA) is a registered plan which allows you, if you are a first-time home buyer, to save to buy or build a qualifying first home tax-free (up to certain limits)…

Firms are not obliged to perform Appropriateness Assessments on clients categorized as Per se professional. However, generally, it is our policy to Assess Appropriateness for our professional clients too.

Additional Information…