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Everything You Need to Know About the First Home Savings Account (FHSA) with Stefan Scott

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Manage episode 362413876 series 2786045
Content provided by Yatin Chadha. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Yatin Chadha or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

It's my pleasure to host Stefan Scott, a fee-for-service (flat-fee) Financial Planner. He is a valued voice on the Physician Financial Independence Facebook group & is exceptionally well versed on the First Home Savings Account (FHSA).
Discussion points:
- Stefan's background (6:42)
- FHSA overview (9:10)
- Eligibility, definition of first time home buyer (10:27)
- How long can an account stay open for? (12:54)
- Carrying forward contributions, over contribution penalties (13:36)
- Tax deductions (15:26)
- Transfers from FHSA to RRSP & vice versa (17:08)
- Are home furnishings eligible? (19:25)
- Spousal transfers (21:31)
- the right way to make transfers (22:24)
- FHSA types, eligible investments, investment strategies (23:40)
- Foreign withholding tax exempt? (28:28)
- Strategies if you don't buy a home (29:37)
- FHSA vs RRSP Home Buyer's plan (33:19)
- What happens to FHSA at death? (36:06)
- Qualified withdrawals & withdrawal guidelines (37:44)
- Closing thoughts on FHSA and beyond (42:40)
Stefan Scott:
HouseCallsFP@gmail.com
https://www.youtube.com/watch?v=s_f78sa5vVk&t=15s
Yatin Chadha:
https://www.linkedin.com/in/yatin-chadha-29074b109/
beyondmdpodcast.com
beyondmdpodcast@gmail.com
https://www.youtube.com/watch?v=Rd90dJueAcg
DEFINITIVE CRA WEBSITE on FHSA:



  continue reading

80 episodes

Artwork
iconShare
 
Manage episode 362413876 series 2786045
Content provided by Yatin Chadha. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Yatin Chadha or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

It's my pleasure to host Stefan Scott, a fee-for-service (flat-fee) Financial Planner. He is a valued voice on the Physician Financial Independence Facebook group & is exceptionally well versed on the First Home Savings Account (FHSA).
Discussion points:
- Stefan's background (6:42)
- FHSA overview (9:10)
- Eligibility, definition of first time home buyer (10:27)
- How long can an account stay open for? (12:54)
- Carrying forward contributions, over contribution penalties (13:36)
- Tax deductions (15:26)
- Transfers from FHSA to RRSP & vice versa (17:08)
- Are home furnishings eligible? (19:25)
- Spousal transfers (21:31)
- the right way to make transfers (22:24)
- FHSA types, eligible investments, investment strategies (23:40)
- Foreign withholding tax exempt? (28:28)
- Strategies if you don't buy a home (29:37)
- FHSA vs RRSP Home Buyer's plan (33:19)
- What happens to FHSA at death? (36:06)
- Qualified withdrawals & withdrawal guidelines (37:44)
- Closing thoughts on FHSA and beyond (42:40)
Stefan Scott:
HouseCallsFP@gmail.com
https://www.youtube.com/watch?v=s_f78sa5vVk&t=15s
Yatin Chadha:
https://www.linkedin.com/in/yatin-chadha-29074b109/
beyondmdpodcast.com
beyondmdpodcast@gmail.com
https://www.youtube.com/watch?v=Rd90dJueAcg
DEFINITIVE CRA WEBSITE on FHSA:



  continue reading

80 episodes

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