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How Canadians Can Earn $5,200 Tax-Free in 2025

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Are you looking for reliable tax-free passive income in your TFSA? Learn why Brookfield Infrastructure's high yield, dividend growth history, and diversified global infrastructure assets make it a compelling choice for Canadian income investors.

The article from MSN Money discusses how Canadians can earn up to $5,200 tax-free in 2025 through the First Home Savings Account (FHSA). This new financial tool allows first-time home buyers to save for a down payment on their first home with tax benefits similar to those of a Registered Retirement Savings Plan (RRSP) and a Tax-Free Savings Account (TFSA). Contributions to an FHSA are tax-deductible, and any investment growth within the account is tax-free if withdrawn to purchase a qualifying home. The FHSA has a lifetime contribution limit of $40,000, with an annual limit of $8,000. The account must be used within 15 years or before the end of the year the account holder turns 71, whichever comes first. If not used for buying a home, the funds can be transferred to an RRSP or withdrawn with taxes applied.

Read the Full MSN Article at:
[ https://www.msn.com/en-ca/money/economy/how-canadians-can-earn-5-200-tax-free-in-2025/ar-AA1wRskj ]