Mackenzie All-Equity Allocation ETF · TSX:MEQT
Mackenzie All-Equity Allocation ETF — Mackenzie Investments — Investor Presentation
14 slides from Mackenzie All-Equity Allocation ETF's investor presentation
Slide 1: The First Home Savings Account (FHSA)
The First Home Savings Account (FHSA) A new way to save for a first home FOR ADVISOR USE ONLY
Slide 2: Some data…
Some data… 67% 63% 35% of first-time homebuyers who of those who plan to buy their first of first-time homebuyers nationwide purchased a home within the last home in the next two years reported say they received financial two years worried about having feeling worried that they will miss assistance
Slide 3: What is the FHSA (First Home Savings Account)?
What is the FHSA (First Home Savings Account)? The First Home Savings Account (FHSA) is a NEW registered plan announced in the 2022 federal budget that allows prospective first-time Canadian homebuyers, to save for their first home, tax-free. Like a Registered Retirement Savings Plan (RRSP), contrib
Slide 4: Main features of the FHSA
Main features of the FHSA 01 02 03 04 05 Annual contribution An individual can open Eligible investments Contributions made to a Contributions are only limit: $8,000 more than one FHSA, include those that are FHSA are tax- deductible in the same but the contribution limits approved for other deducti
Slide 5: Why consider an FHSA as part of a financial plan?
Why consider an FHSA as part of a financial plan? Individuals can contribute up to $40,000 for a first home purchase. You can carry forward unused contribution room, up to $8,000 from prior years, for as long as the account is open. Reduce an individual’s tax bill and carry forward undeducted contri
Slide 6: Eligibility
Eligibility To be eligible, an individual must be: A Canadian resident Non-residents of Canada are not eligible to open an FHSA account but may still be able to make contributions to an existing account. A first-time home buyer However, withdrawals can only be made by a Canadian resident to purchase
Slide 7: How the FHSA and HBP can work together?
How the FHSA and HBP can work together? The Home Buyers’ Plan (HBP) is another program offered to individuals to help save for a down payment on a home. The HBP allows for a lump sum withdrawal of up to $35,000 from The FHSA and Home Buyers’ Plan (HBP) can an individual’s RRSP or spousal RRSP where
Slide 8: Withdrawal from an FHSA
Withdrawal from an FHSA Qualifying withdrawals from an FHSA to buy a home are not taxable, if the individual is a first-time home buyer and the funds are used to purchase a qualifying home no later than October 1 of the year following the year of the withdrawal. 01 02 03 04 For the purposes of a The
Slide 9: Closing an FHSA
Closing an FHSA The maximum participation period begins when the first FHSA is opened and ends Closing an FHSA is allowed at any time, but there may be tax implications in doing so. when the earliest of the following: An FHSA should be closed before the maximum participation period ends to avoid uni
Slide 10: Death of an FHSA holder and spousal treatment
Death of an FHSA holder and spousal treatment Contributions or transfers made before the death of the account holder are tax-deductible under normal rules. However, no contributions or transfers can be made to the deceased holder’s FHSA after their date of death. In the event of an account holder’s
Slide 11: Death of an FHSA holder and spousal treatment
Death of an FHSA holder and spousal treatment 03 04 05 06 The account holder designates The account holder did not Amount transferred from the Payment made to the spouse or a spouse or common-law designate beneficiaries. In this deceased’s estate to the spouse common-law partner from the partner as
Slide 12: Death of an FHSA holder and spousal treatment
Death of an FHSA holder and spousal treatment 07 08 Payment made to the spouse or common-law partner from the The account holder designates someone other than a spouse or deceased holder’s estate can be deemed to be made from the common-law partner as the beneficiary. In this case the amounts deceas
Slide 13: Disclaimer
Disclaimer For advisor use only. This should not be construed as legal, tax or accounting advice. This material has been prepared for information purposes only. The tax information provided in this document is general in nature and each client should consult with their own tax advisor, accountant an
Slide 14: 180 Queen Street West, Toronto, Ontario
180 Queen Street West, Toronto, Ontario M5V 3K1 T 416 967-2380 F 416 922-3435 FOR ADVISOR USE ONLY