Money Mindset Financial Coaching’s Post

Are you a Canadian saving to buy your first home? Do you have a First Home Saving Account? If you don’t, I encourage you to look into the tax benefits of this account. In the years that you contribute to your first home savings account, it reduces your taxable income, like an RRSP, but in the year that you have a qualifying home purchase and withdraw funds, they are not taxed, like the TFSA withdrawals. So it definitely is win-win if you are a first time homebuyer!

Looking to buy your first home? A First Home Savings Account (FHSA) might be just what you need! It allows you to save for your first home in a tax-free environment. Contributions are tax-deductible, and withdrawals used for a qualifying home purchase are tax-free. #HomeOwnership #CanadaFinance

Looking to buy your first home? A First Home Savings Account (FHSA) might be just what you need! It allows you to save for your first home in a tax-free environment. Contributions are tax-deductible, and withdrawals used for a qualifying home purchase are tax-free. #HomeOwnership #CanadaFinance

Maximize Potential Tax Benefits! 💰🏡 Did you know homeownership, mortgages, and refinancing can offer valuable tax benefits? Here are some important highlights to consider: 1. Mortgage Interest Deduction. 2. Property Tax Deduction. 3. Refinance Points. Take advantage of these benefits and potentially save on your taxes! 📊🏠 ⚠ Disclaimer: Tax benefits vary by individual circumstances. Consult a tax professional for advice. #taxbenefits #homeownership #mortgagetips #refinance #blackfoxtitle

Hey friends, it's Tax Day! ⏰ Don't forget to file your taxes by today's deadline. And if you're receiving a refund, consider putting it towards your future home purchase. Give me a call, and let's discuss your options. #BankSouthMortgage #YourLocalLender #TaxDay #HomeBuying #MortgageOptions #Finances

Hey friends, it's Tax Day! ⏰ Don't forget to file your taxes by today's deadline. And if you're receiving a refund, consider putting it towards your future home purchase. Give me a call, and let's discuss your options. #BankSouthMortgage #YourLocalLender #TaxDay #HomeBuying #MortgageOptions #Finances

Hey friends, it's Tax Day! ⏰ Don't forget to file your taxes by today's deadline. And if you're receiving a refund, consider putting it towards your future home purchase. Give me a call, and let's discuss your options. #BankSouthMortgage #YourLocalLender #TaxDay #HomeBuying #MortgageOptions #Finances

Hey friends, it's Tax Day! ⏰ Don't forget to file your taxes by today's deadline. And if you're receiving a refund, consider putting it towards your future home purchase. Give me a call, and let's discuss your options. #BankSouthMortgage #YourLocalLender #TaxDay #HomeBuying #MortgageOptions #Finances

🏡 Can you use your super to save a first home deposit? 🏡⁣ ⁣ Want to fast-track your first home deposit?⁣ ⁣ The First Home Super Saver Scheme could be worth a look. 👀⁣ ⁣ The scheme could boost your savings for a deposit by 30% compared to a regular savings account, says the federal government.⁣ ⁣ Simply make voluntary contributions to super – up to $15,000 annually. 📆⁣ ⁣ This can allow you to benefit from the tax savings you receive from your super fund, plus the potential for higher returns compared to a regular savings account.⁣ ⁣ When you’re ready to buy, you can withdraw the money you've voluntarily contributed - up to $50,000 - plus any associated earnings. 😁⁣ ⁣ Better still, if you're buying with a partner, together you can withdraw up to $100,000 plus associated earnings.⁣ ⁣ Call us today to see if the scheme could help you become a home owner. 👇⁣ ⁣ To find out more, DM or contact the team at Clark Finance Group on: ☎️ – 1300 366 670 💻 – support@clarkfg.com.au #ClarkFinanceGroup #Melbourneproperty #MelbourneRealEstate #MelbourneFinance #MelbourneBroker #Melbourne #GreensboroughProperty #GreensboroughRealEstate #GreensboroughFinance #GreensboroughBroker #Greensborough #VictoriaProperty #VictoriaRealEstate #Finance #Business #MelbourneBusiness #HomeLoans #MelbourneAuctions #FirstHomeBuyers #Refinancing #PropertyInvestors

The Home Buyers' Plan (HBP) lets first-time home buyers borrow money from a RRSP for a down-payment on a new home. The First Home Savings Account (FHSA) a new account that lets first-time home buyers make tax deductible contributions of up to $8,000 per year, up to a lifetime maximum of $40,000.