How to Transfers out of your FHSAs without immediate tax consequences ?
Generally, you can transfer property out of your FHSAs without any immediate tax consequences if it is:
- A direct transfer to your RRSPs or RRIFs: when you transfer from your FHSAs to your RRSPs or RRIFs in certain situations
- A direct transfer to another of your FHSAs: when you transfer from your FHSAs to another of your FHSAs in certain situations
- A designated transfer: when you designate a transfer from your FHSAs because you overcontributed and have an excess FHSA amount
Check for more information here at the CRA website : Withdrawals and transfers out of your FHSAs - Canada.ca (opens in a new tab)
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