FHSA Account
First Home Savings Account (FHSA)
(Available at GP Wealth starting in April 2023)
Get started towards your goal of buying your first home. An FHSA is a new registered investment option introduced by the federal government specifically to help first-time home buyers achieve the goal of home ownership.
An FHSA is unique in that it combines features of both the Registered Retirement Savings Plan (RRSP) and the Tax-Free Savings Account (TFSA).
The contributions you make to your FHSA are tax-deductible, which means you can decrease your taxable income when filing your tax returns. Also, if you make eligible withdrawals from your FHSA to buy a home, those withdrawals won’t be taxed.
In addition, investment income isn’t taxable as the returns generated in the FHSA are always tax-sheltered.
You may be eligible to open an FHSA if you are 18 years old or older (and no less than the age of majority in your province), possess a Social Insurance Number (SIN), and have not owned a home where you resided in the current year or in the previous four calendar years.
Benefits of an FHSA Account
- Save up to $8,000 annually and up to $40,000 lifetime for your first home
- Contribute tax-free for up to 15 years
- Unused contribution room from the prior years can be carried forward for as long as you have the account
- May be used simultaneously with the Home Buyers’ Plan (HBP)
- Tax-Sheltered Growth
- Flexible Investment Options
- Potentially reduce your tax bill and carry forward undeducted contributions indefinitely
We Offer 3 FHSA Investment Account Choices
Mutual Fund FHSA
Choose from an extensive lineup of mutual funds from more than 35 fund management companies. Our fund selection encompasses a full range of savings, income and growth funds.
Managed Portfolio FHSA
Building a diversified portfolio and constantly monitoring and adjusting it takes time and expertise. For this reason, many investors prefer our “All-In-One Fund Solution,” which offers an easy and effective way to handle the money management and asset mix.
GIC FHSA
We offer FHSA Guaranteed Investment Certificates (GICs) in terms ranging from one to five years. GICs provide guaranteed principal and interest, so they make an ideal addition to a diversified portfolio.
Get Started Now!
Open an FHSA account or transfer your existing FHSA account to GP Wealth Management. We encourage you to get professional advice when managing your FHSA account.
Related Information
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Investment and Retirement Products
GP Wealth carries mutual funds from over 30 fund management families. Funds may be discontinued or change names without notice. Some funds have minimum initial deposit requirements, a minimum duration, or have limited subscription.
Types of Investment and Retirement Products Available
MUTUAL FUNDS GUARANTEED INVESTMENT CERTIFICATES (GICs) ANNUITIES BONDS AND DEBENTURES* SEGREGATED FUNDS STOCKS* Mutual Funds Available
GICs Available
B2B BANK BMO BANK BRIDGEWATER BANK CANADIAN WESTERN BANK CANADIAN WESTERN TRUST COMMUNITY TRUST CONCENTRA FINANCIAL DUCA EFFORT TRUST EQUITBLE BANK GENERAL BANK OF CANADA HAVENTREE BANK HOME BANK HOME TRUST COMPANY ITALIAN CANADIAN SAVINGS & CU LAURENTIAN BANK MANULIFE BANK/TRUST MCAN MORTGAGE CORPORATION PACIFIC & WESTERN BANK PEACE HILLS TRUST PEOPLE'S TRUST VERSA BANK Segregated Investment Funds
If you have any questions about investing in investment and retirement products, send us an email and we would be pleased to help.Invesco Segregated Funds Great West Life Assurance Co. CI Segregated Funds Mackenzie Segregated Funds Canada Life Standard Life Empire Life TD Guaranteed Funds Important information
*Bonds and Equities are made available through an exclusive referral agreement with B2B Securities and Q-Trade Investors. Please speak to your financial advisor for further details on this service.
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Retirement Planning
Plan Your Retirement – Today and for the Future
Whether you’re currently retired or years away, reviewing your financial plan regularly makes sense. With the ever-changing tax laws and investment options, planning for retirement requires continuous monitoring and updating to ensure you’re on top of things.
As an independent wealth management company with strong alliances among Canada’s top financial companies, GP Wealth has enormous flexibility in designing financial plans and recommending appropriate products for its clients. We pride ourselves in providing objective advice. You get a comprehensive financial plan that is tailored to your needs.
Why Prepare a Retirement Plan
Planning for retirement requires a long-term commitment that should not be delayed. One of the most important aspects of the financial planning process is preparing for a secure retirement. The decisions you make today will have a huge impact on your lifestyle in retirement.
We can help you determine how much you will get from your company pension and the government when you retire, and how to make up the difference with your own customized investment plan.
The Value of Advice
Canadians with financial advisors are more confident about their future.
Client Relationship Document
We’ve developed a plain-language document that describes the relationship between you and your GP Wealth Financial Advisor or Planner.