{"id":2287,"date":"2022-05-08T16:23:11","date_gmt":"2022-05-08T20:23:11","guid":{"rendered":"http:\/\/melaniedubois.com\/?page_id=2287"},"modified":"2022-05-08T16:23:11","modified_gmt":"2022-05-08T20:23:11","slug":"english-budget-real-estate-tfsa-to-help-first-time-buyers","status":"publish","type":"page","link":"https:\/\/melaniedubois.com\/en\/english-budget-real-estate-tfsa-to-help-first-time-buyers\/","title":{"rendered":"Budget: Real Estate TFSA to help first-time buyers"},"content":{"rendered":"<p><\/p>\n<p style=\"text-align: justify;\">The federal government is introducing a Tax-Free Savings Account (TFSA) where first-time buyers could save a portion of their down payment tax-free.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/mcusercontent.com\/93cd80b45544fad91b6b44d60\/images\/e60a164a-b881-39db-6d4b-7a716e62ade4.png\" \/><\/p>\n<p style=\"text-align: justify;\">The measure, introduced in the 2022 federal budget, would work much like the TFSA, which allows for tax-sheltered investing. People would be able to deposit a maximum of $8,000 per year to a maximum of $40,000 per person. The measure would come into effect as early as 2023.<\/p>\n<p style=\"text-align: justify;\">In order to open a TFSA real estate account, the person would have to be a &#8220;first time buyer&#8221;. By definition, they would not already own a property or have owned a property in the five years prior to opening the account. Canadians would be allowed to open this type of account only once, to avoid having someone use it repeatedly on a regular basis.<\/p>\n<p style=\"text-align: justify;\">However, the government is counting on the fact that saving $40,000 takes time, so the time horizon for collecting the money would be between five and ten years after the sale of a previous property.<\/p>\n<p style=\"text-align: justify;\">\nThe Real Estate TFSA will also have a maximum term. Fifteen years after opening, the owner will have to close the account even if he or she has not yet purchased a property.<\/p>\n<p style=\"text-align: justify;\">&#8220;When house prices go up, so does the cost of building equity,&#8221; the government explains in its budget document. This is a major barrier for those looking to buy a home, especially young people.&#8221;<\/p>\n<h2 style=\"text-align: justify;\">Purchase for two<\/h2>\n<p style=\"text-align: justify;\">A couple could accumulate $80,000 plus investment earnings within the TFSA Real Estate. Both the amounts deposited and the income and withdrawals are tax-free.<\/p>\n<p style=\"text-align: justify;\">If one of the couple is or was a homeowner, only the non-homeowner would be able to use the TFSA real estate account.<\/p>\n<p style=\"text-align: justify;\">The federal government estimates that this measure will provide $725 million in support to homebuyers across the country over a five-year period.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>Source :<\/strong><a href=\"https:\/\/www.lesaffaires.com\/secteurs-d-activite\/immobilier\/un-celi-immobilier-pour-aider-les-premiers-acheteurs\/632133?fbclid=IwAR3lLEzMjxFfTD3pz0GqgVfPf4r009q2GsExzo9tDKyvCKHK5veztRl7m4U\"> Article by Charles POULIN on the lesaffaires.com on the 7th april of 2022<\/a><\/p>\n<p><strong>Link : <\/strong><a href=\"https:\/\/www.lesaffaires.com\/secteurs-d-activite\/immobilier\/un-celi-immobilier-pour-aider-les-premiers-acheteurs\/632133?fbclid=IwAR3lLEzMjxFfTD3pz0GqgVfPf4r009q2GsExzo9tDKyvCKHK5veztRl7m4U\">https:\/\/www.lesaffaires.com\/secteurs-d-activite\/immobilier\/un-celi-immobilier-pour-aider-les-premiers-acheteurs\/632133?fbclid=IwAR3lLEzMjxFfTD3pz0GqgVfPf4r009q2GsExzo9tDKyvCKHK5veztRl7m4U<\/a><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center;\">You want to keep an eye on the market and your investment ?<\/p>\n<p style=\"text-align: center;\">We can periodically send you a list of sales in your neighborhood.<\/p>\n<p style=\"text-align: center;\">It&#8217;s FREE!\u00a0 No obligation on your part.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/mcusercontent.com\/93cd80b45544fad91b6b44d60\/images\/4e6f6591-1108-4326-bdd0-44f74a03ea2b.png\" \/><\/p>","protected":false},"excerpt":{"rendered":"<p>The federal government is introducing a Tax-Free Savings Account (TFSA) where first-time buyers could save a portion of their down payment tax-free. The measure, introduced in the 2022 federal budget, would work much like the TFSA, which allows for tax-sheltered investing. People would be able to deposit a maximum of $8,000 per year to a [&hellip;]<\/p>\n","protected":false},"author":742,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-2287","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Budget: Real Estate TFSA to help first-time buyers - \u00c9quipe M\u00e9lanie Dubois<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/melaniedubois.com\/fr\/english-budget-real-estate-tfsa-to-help-first-time-buyers\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Budget: Real Estate TFSA to help first-time buyers - \u00c9quipe M\u00e9lanie Dubois\" \/>\n<meta property=\"og:description\" content=\"The federal government is introducing a Tax-Free Savings Account (TFSA) where first-time buyers could save a portion of their down payment tax-free. The measure, introduced in the 2022 federal budget, would work much like the TFSA, which allows for tax-sheltered investing. People would be able to deposit a maximum of $8,000 per year to a [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/melaniedubois.com\/fr\/english-budget-real-estate-tfsa-to-help-first-time-buyers\/\" \/>\n<meta property=\"og:site_name\" content=\"\u00c9quipe M\u00e9lanie Dubois\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mcusercontent.com\/93cd80b45544fad91b6b44d60\/images\/e60a164a-b881-39db-6d4b-7a716e62ade4.png\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/melaniedubois.com\/fr\/english-budget-real-estate-tfsa-to-help-first-time-buyers\/\",\"url\":\"https:\/\/melaniedubois.com\/fr\/english-budget-real-estate-tfsa-to-help-first-time-buyers\/\",\"name\":\"[:en]Budget: Real Estate TFSA to help first-time buyers[:] - \u00c9quipe M\u00e9lanie Dubois\",\"isPartOf\":{\"@id\":\"https:\/\/melaniedubois.com\/en\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/melaniedubois.com\/fr\/english-budget-real-estate-tfsa-to-help-first-time-buyers\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/melaniedubois.com\/fr\/english-budget-real-estate-tfsa-to-help-first-time-buyers\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/mcusercontent.com\/93cd80b45544fad91b6b44d60\/images\/e60a164a-b881-39db-6d4b-7a716e62ade4.png\",\"datePublished\":\"2022-05-08T20:23:11+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/melaniedubois.com\/fr\/english-budget-real-estate-tfsa-to-help-first-time-buyers\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/melaniedubois.com\/fr\/english-budget-real-estate-tfsa-to-help-first-time-buyers\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/melaniedubois.com\/fr\/english-budget-real-estate-tfsa-to-help-first-time-buyers\/#primaryimage\",\"url\":\"https:\/\/mcusercontent.com\/93cd80b45544fad91b6b44d60\/images\/e60a164a-b881-39db-6d4b-7a716e62ade4.png\",\"contentUrl\":\"https:\/\/mcusercontent.com\/93cd80b45544fad91b6b44d60\/images\/e60a164a-b881-39db-6d4b-7a716e62ade4.png\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/melaniedubois.com\/fr\/english-budget-real-estate-tfsa-to-help-first-time-buyers\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Accueil\",\"item\":\"https:\/\/melaniedubois.com\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"(English) Budget: Real Estate TFSA to help first-time buyers\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/melaniedubois.com\/en\/#website\",\"url\":\"https:\/\/melaniedubois.com\/en\/\",\"name\":\"\u00c9quipe M\u00e9lanie Dubois\",\"description\":\"Courtier immobilier Montr\u00e9al, KW Connexion\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/melaniedubois.com\/en\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Budget: Real Estate TFSA to help first-time buyers - \u00c9quipe M\u00e9lanie Dubois","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/melaniedubois.com\/fr\/english-budget-real-estate-tfsa-to-help-first-time-buyers\/","og_locale":"en_US","og_type":"article","og_title":"Budget: Real Estate TFSA to help first-time buyers - \u00c9quipe M\u00e9lanie Dubois","og_description":"The federal government is introducing a Tax-Free Savings Account (TFSA) where first-time buyers could save a portion of their down payment tax-free. 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