FHSA
FHSA β save for your first home, tax-free
Contributions are tax-deductible like an RRSP, and qualifying withdrawals to buy a first home are tax-free like a TFSA.
Who itβs for
Is this right for you?
- First-time home buyers aged 18 and over
- Couples saving together β each can open an FHSA
- Renters planning to buy in the next few years
How it works
- Open your FHSAStart building contribution room right away.
- Contribute & deductContributions reduce your taxable income.
- Buy your homeWithdraw tax-free for a qualifying first home.
Key features
How it works
- Contribute up to $8,000 a year, $40,000 lifetime
- Contributions are tax-deductible
- Tax-free withdrawals for a qualifying first home
- Unused room (up to $8,000) carries forward
Contribution limits and rules are set by the Government of Canada and can change. See the current details at canada.ca. This is general information, not tax advice.
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Tell us a little about what you need. A licensed advisor will compare options from several insurers and call you back β there is no cost for advice.
- Free, no-obligation quote
- Options from several insurers
- Clear explanation of benefits and exclusions