On May 11, Fidelity Investments Canada hosted FOCUS2023, a daylong event for advisors featuring Fidelity’s portfolio managers, subject matter experts and thought leaders. Sessions ran both on-stage in Vancouver to a live audience, and from our Toronto studio for a crowd of thousands more online.  On today’s podcast, our retirement and tax experts Peter Bowen and Michelle Munro discuss the new FHSA or First-Home Savings account - the main highlights of the new investment vehicle and how the FHSA could fit in your overall investment strategy.  Buying a home can be a challenge for many first-time home buyers especially in today’s environment, but this new registered account allows you to save up to 40-thousand dollars tax-free towards the purchase of your first home.  Peter explains how the FHSA is a powerful investment tool that combines the benefits of an RRSP and TFSA. He says there is no tax on the withdrawal from a FHSA if it’s going towards the first purchase of a home and there are other options like transferring FHSA funds into an RRSP or RRIF.  And Michelle addresses common questions about the FHSA such as contribution room and criteria and eligibility of the investment account. Recorded on May 11, 2023.

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