FHSA calculator
The First Home Savings Account combines the best of both: contributions are deductible like an RRSP, and a qualifying withdrawal to buy your first home is tax-free like a TFSA.
Assumptions
- $8,000 annual participation room starting the year you open an FHSA; lifetime limit $40,000.
- Unused room carries forward, up to $8,000 (so up to $16,000 in one year).
- Contributions are made at the start of each year; refunds are not reinvested.
- Ignores the 15-year account limit and the other qualifying-withdrawal conditions.
General information, not financial advice. This calculator gives rough estimates from simplified assumptions. It does not know your full situation. Check with a qualified professional and the official sources before making decisions.
Sources
Figures checked October 16, 2026. Rules and limits change; confirm with the source before acting.