How much can I put in my FHSA this year?
Up to $8,000 a year, plus up to $8,000 of unused room carried forward from earlier years, to a lifetime maximum of $40,000. Room starts the year you open the account. You must be a first-time home buyer, 18 or older and a Canadian resident, and the account can stay open up to 15 years or until the end of the year you turn 71.
Common questions
Do I have to buy a home?
No. If you don't buy a qualifying home, the FHSA can be transferred to your RRSP without using RRSP room, within the time limits.
Can I use the FHSA and the Home Buyers' Plan together?
Yes, for the same home, if you meet the conditions for both.
Is the contribution tax-deductible?
Yes, like an RRSP, and a qualifying withdrawal for a first home isn't taxed.
Saving for a first home?
The FHSA, the Home Buyers' Plan and help from family can all work together. We'll map the order.
More tools
How much TFSA room do I have?
Open →SavingRRSP or TFSA: which comes out ahead?
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Open →Figures as at November 2026. Sources: Canada Revenue Agency, Service Canada, Income Tax Act.
Illustrative arithmetic only. Figures set by legislation can change; verify current rules before relying on any result. Educational only. Not tax, legal, or investment advice. Confirm with your accountant before acting. Mutual Funds and Segregated Funds provided by the Fund Companies are offered through Worldsource Wealth Management Inc., sponsoring mutual fund dealer. Other Products and Services are offered through David Creighton, Lindsay Smith, John Creighton, Matthew Smith, Darroll Powe, and Creighton Financial Group.