The Canada Revenue Agency outlined reporting requirements, credits and more
A tax expert does the math
The Liberals are expected to loosen rules around when Canadians can dip into RRSPs to fund home purchases.
Inform clients about the do's and don'ts around RRSPs if they're planning to make a contribution or an early withdrawal.
The Conservatives would let first-time buyers take $35,000 from their RRSPs to pay for homes if they’re re-elected.
Once they start house hunting, 43% of people have to raise their budgets.
Four times when clients shouldn’t follow conventional wisdom
New homeowner clients should take advantage of two boosts from CRA.
Your clients have been approved for a mortgage, but you’re not sure they’re ready.
Discuss emergency funds and contingency plans. Emergency funds should cover between three and six months of living expenses.
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