2023 Federal Budget Analysis

This budget projects a $40.1 billion deficit for the fiscal year that begins April 1, which is forecasted to drop to $14 billion by 2027-28.

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Tax-Free First Home Savings Account

The First Time Home Savings Account is a new registered account intended to help individuals save for their first home. It is a hybrid of the Tax-Free Savings Account and the Registered Retirement Savings Account. Individuals get a deduction for contributions, and neither growth nor withdrawals for a first home purchase are taxable.

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RRSP Contribution Deadline 2023

If you want a tax receipt for the 2022 tax year, the deadline for contributing to your Registered Retirement Savings Plan (RRSP) is March 1, 2023

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