The company revealed on Tuesday that the interactive brokers provided the first savings account (FHSA) to the Canadian population.
According to mediation, the account provides users with an effective tax to provide and invest a first house.
FHSA, a registered government plan, allows Canadians to contribute up to 8000 CDA annually with a maximum lifetime of 40,000 CDA.
Contributions are exempt from taxes, each of the capital gains increases and the benefits are exempt from taxes.
“The purchase of one of the largest financial landmarks is, and we are happy to provide a solution to provide Canadians in reaching this goal,” said Steve Sanders, Executive Vice President of Marketing and Product Development in Interactive Intermedines.
The company added that the account also provides long -term flexibility. If it is not used to buy the house within 15 years, tax -exempt FHSA money can be transferred to the registered retirement plan (RRSP), while maintaining the deferred growth of taxes.
House buyers for the first time, or those who have not owned a house in the past four years, can open FHSA.
The launch is in line with the increasing demand for tax efficiency tools that support home ownership targets in the difficult housing market in Canada.