Saving for a first home

If you’re looking for a quick way to save for a down payment, look no further than the Fonds de solidarité FTQ. With an HBP and an RRSP at the Fonds, you can save the money you need faster than you think.

What is the HBP?

The Home Buyers’ Plan (HBP) is a federal program that allows you to make a tax-free withdrawal from your RRSP to buy a first home. 

You are eligible to participate in the HBP if you are a first-time home buyer or if you and your spouse did not occupy a home that you owned in the last five years. Each spouse can withdraw up to $25,000 from their RRSP tax free, provided, however, that this amount is repaid to the RRSP.

The advantages of investing in an RRSP at the Fonds when participating in the HBP

Tax credits that really pay off 

After 5 years, you could end up with $25,000 in your RRSP… and you would only have to put up about $10,000 of your own money (or about $80 per pay cheque). Here’s how:

Year

Amount invested in an RRSP with the Fonds

Tax savings 

Investment cost

 Credits*  Approx. RRSP deduction**  Total tax savings

 2016

$5,000

$1,500

$1,425

$2,925 

$2,075

 2017

$5,000

$1,500

$1,425 

$2,925 

$2,075

 2018 $5,000  $1,500  $1,425   $2,925  $2,075

 2019 $5,000

$1,500  $1,425   $2,925

$2,075 
 2020 $5,000

$1,500  $1,425  $2,925  $2,075 

 Total

 $25,000

$7,500

$7,125   $14,625

$10,375

* The tax credits granted to the shareholders of the Fonds are 15% at the federal level and 15% at the provincial level.

** Example based on a marginal tax rate of 28.5%

Still not sure? Do the math!

Use our simulator to calculate how much money and taxes you can save with an RRSP at the Fonds in order to take advantage of the HBP. 

Calculate your tax savings

What are you waiting for? Your dream home is within reach. 

Contribute online today >

Please read the prospectus before investing. Copies of the prospectus may be obtained on its Website, from a local representative or at the offices of the Fonds de solidarité FTQ. The shares of the Fonds de solidarité FTQ are not guaranteed, their value changes and past performance may not be repeated.


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