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What is the First Home Savings Account (FHSA)?
A First Home Savings Account (FHSA) is a savings account from the federal government. It allows individuals to save money for their first home purchase, providing tax benefits and other incentives to help them afford a home. FHSAs are typically designed to be flexible, easy to use, and tax-free with features like automated transfers from your regular chequing account and the ability to easily track your progress toward your goal.