Megan Lisowski - Oct 05, 2023
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Market and Portfolio Update
When September Ends..
As usual, September proved difficult to navigate in the markets as professional investors returned from the summer and looked to position portfolios going into the year end. It was, however, even more difficult given the continued fears over persistent inflation and the rising interest rates by central banks to stall it in its tracks. We also saw an increase in volatility due to the US Congress looking to avert a government shutdown. Finally, last weekend, they managed to kick it down the road again for another 45 days. READ MORE
First Home Savings Account
In the 2022 Federal budget, the Canadian government proposed the introduction of the tax-free First Home Savings Account (“FHSA”). This new registered plan enables prospective first-time home buyers to contribute up to $40,000 toward saving for their first home on a tax-free basis. Similar to a Registered Retirement Savings Plan (“RRSP”), contributions to an FHSA are tax-deductible, and withdrawals to purchase a first home – including from investment income – are non-taxable, like a Tax-Free Savings Account (“TFSA”). Read More
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