CFP® and QAFP® certificants: 1.5 hours in Financial Planning Category
MFDA: 1.5 PD credits
IIROC: 1.5 PD credits, Cycle 9 (2022 - 2023)
Life Agents (provincial requirements): Eligible for 1.5 hours ON, AB, SK (subject to 5 hr limit on non-insurance topics in SK)
CLUs: Not Institute accredited, but will likely qualify for 1.5 Institute-approved Professional Development credits. See What's the difference?
CPAs: 1.5 verifiable CPD hours
FORMAT: Written course notes in PDF format (read them online or print them). You must complete an online Course Quiz to obtain CE credits.
On December 15, 2022, Bill-C32 to implement the proposed First Home Saving Account (FHSA), received Royal Assent. The FHSA is a new tax-advantaged savings vehicle that is expected to be available as of April 1, 2023. This course covers the detailed rules of this program, as well as potential strategies for making best use of the plan. (Note: This course reflects the final legislation that received Royal Assent).
As a financial advisor, you should have a good understanding of how this program is going to work, to help clients tailor their savings approach accordingly.
After completing this course, you should have a better understanding of:
- who is eligible to open an FHSA
- the annual and lifetime contribution limits
- the deductibility of contributions
- contribution strategies, including transfers from an RRSP and in-kind contributions
- how and when withdrawals can be made to buy a qualifying home
- when an FHSA has to close, and options for withdrawing the funds
- what happens to an FHSA upon death or marital breakdown
- strategies for making best use of an FHSA
NOTE: You have 6 months from time of purchase to complete this course.
PUBLISHED: October 2022, updated to reflect approved legislation Dec. 19, 2022
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