How I Bought A DUPLEX at 23 Years Old! - Real Estate Investing

Purchasing your first home or piece of investment property is a big step for anyone, and I wanted to showcase that this can come with some significant tax savings. In today's video, I want to share with you two Canadian Home Buyer Incentives to help Canadians save on taxes when purchasing their first home. The First Time Home Buyer Plan (FTHBP) is the Government of Canada allowing you to dip into your Registered Retirement Savings Plan (RRSP) in order to provide a source of funding for your down payment. This Home Buyer’s Plan allows first time home buyers to borrow up to $25 000 from their RRSPs for a down payment, completely tax-free. This can also allow you to benefit from the tax sheltering of an RRSP, while still providing funding for your home. The First Time Home Buyer Tax Credit is a $5000 tax rebate that applies to any Canadian who purchases their first home. Resources I Use and Recommend: ► Get $25 For FREE with Wealthsimple Trade 🇨🇦💵 (Stock Brokerage): https://wealthsimple.sjv.io/6a3Xb ► Accurately Track Your Stock Market Returns 📊 (Portfolio Tracker): https://www.griffinmilkscourses.com/spreadsheet ► Learn to Invest in the Stock Market 📈 (Full Course): https://www.griffinmilkscourses.com/course ► Get $50 for FREE with Wealthsimple Invest 🤑 (ETF Brokerage): https://wealthsimple.sjv.io/KY7mN ► Get $50 in Free Trades with Questrade 🇨🇦 (Stock Brokerage): http://www.questrade.com?refid=5cc1f638589bf ► Get up to $250 in BTC with BlockFi! 💸 (Free Crypto): https://blockfi.mxuy67.net/c/1442462/907782/10568 ► Get up to 1.25% interest with this savings account 💰 (Savings Account): https://api.fintelconnect.com/t/l/60c8c10b1164cb001dc0b38f Disclaimer: This video contains affiliate links, meaning that if you click on a product link I may receive a commission at no additional cost to you. I do not promote products, services or companies I have not personally used or those which I do not recommend. All opinions are my own.