If you’re a Canadian saving up for your first home, you’ve probably heard about the First Home Savings Account, or FHSA. Launched in 2023, it’s quickly become one of the most useful tools in a first-time buyer’s toolkit, combining a tax deduction like an RRSP with tax-free growth and withdrawals like a TFSA.
Being based in the heart of the Kitchener Waterloo Tech Basin we discuss equity compensation with many tech employees. Specifically, the taxation of the two main forms of equity comp, Restricted Share Units or RSUs and Stock Options. While there are some cross border individuals who have more complex needs, this blog post will go over this from a purely Canadian Tax Perspective.
