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Sharp Asset Mnagement

Our investment management team draws from a large resource base of highly qualified professional securities brokers, analysts, economists, independent research firms and account custodians. Since we have no affiliation with any particular firm or Financial Institution, we select only the products and services which are best for each client.

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Sharp Asset Mnagement

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  1. Phone:416-722-9009 Email: Contact@sharpasset.com Sharp Asset Management Inc. New Tax-Free First Home Savings Account

  2. What Is the New Tax-Free First Home Savings Account? • First-time homebuyerstypically account for more than half of all purchases. Since the pandemic, though, that number has been falling, reaching a low of 46.8% in June 2021. • For first-time homebuyers, the federal government has launched a number of programmes designed to help first-time buyers step onto the property ladder.

  3. What Is the Registered Home Ownership Savings Plan? • Three popular financial vehicles used to help Canadians save for a down payment include the Registered Retirement Savings Plan (RRSP) Home Buyers Plan (HBP), tax-free savings account(TFSA), and provincial programs like the Ontario Home Ownership Savings Plan. • In the 2022 Federal Budget, the government of Canada unveiled the Tax-Free First Home Savings Account (FHSA), a new registered plan that allows account holders under the age of 40 to save up to $40,000 towards their first home, tax-free.

  4. Advantages of the FHSA • With an FHSA, and unlike a Home Buyers Plan, the money does not need to be paid back. • the FHSA essentially combines the advantages of the existing TFSA and RRSP. Like an RRSP, contributions will be tax deductible, and like a TFSA, qualifying withdrawals to purchase a first home will be non-taxable.

  5. How Does the FHSA Differ from the Home Buyers Plan? • With the Home Buyers’ Plan, Canadians can withdraw up to a maximum $35,000 from an RRSP for a down payment. The money also needs to be repaid within 15 years. • With an FHSA, you can funnel $40,000 into the plan and the savings do not need to be repaid. Best of all, the FHSA and the HBP plan can be used together.

  6. Why Sharp Asset Management for Your Retirement Planning? • Sharp Asset Management Inc. is an independent portfolio management firmthat is 100% owner-operated. • We are not affiliated with any financial institution, securities firm, or mutual fund company. Nor do we earn any commissions or fees on investments we choose for our clients. • Our wealth management professionalsare focused exclusively on helping you achieve your unique, long-term investing objectives. To learn more about investing with Sharp Asset Management, contact ustoday.

  7. Contact Us Sharp Asset Management Inc. Address:21 Greenwin Village Road, Toronto, Ontario, M2R 2R9 Phone:416-722-9009 Email:contact@sharpasset.com P.O BOX 74539 Humbertown Centre, 270 The Kingsway Toronto, ON M9A 5E2

  8. For More Information, visit us : https://www.sharpasset.com/ Thank You!

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