Accounting Club of Acsenda

Understanding FHSA

The FHSA is a registered savings plan designed to help first-time homebuyers save up to $40,000 towards their home purchase without being taxed on the contributions or earnings. Similar to a Registered Retirement Savings Plan (RRSP), contributions to an FHSA are tax-deductible in the year they are made.

What is TFSA ?

A Tax-Free Savings Account (TFSA) is a registered savings account in Canada that offers tax advantages to help you grow your money without being taxed on the earnings. You can think of a TFSA as a basket where you can hold various investments like cash, stocks,

Understanding RRSPs: A Guide to Retirement Savings

Registered Retirement Savings Plans (RRSPs) are tax-advantaged accounts designed to help Canadians save for retirement. Contributions are tax-deductible, and investments grow tax-free until withdrawal. There are various types of RRSPs, including individual, spousal, and group plans. The 2024 contribution limit is 18% of the previous year's income, up to $31,560.

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About Us.

The Accounting Club of Acsenda is dedicated to fostering a community of students who share a passion for accounting and finance. Our mission is to provide members with the resources, knowledge, and networking opportunities necessary to excel in their academic and professional pursuits.