Tax-Free First Home Savings Account: Here are the basics

Planning to buy a home? Here’s what you need to know about the Tax-Free First Home Savings Account that’s expected to launch next year.

The program was announced in the 2022 federal budget and is aimed at helping first-time homebuyers jump into Canada’s pricey housing market.

Last week, the Department of Finance released its draft legislative proposals with additional details on the new account.

Here’s what you need to know about the savings vehicle that’s expected to launch sometime next year.