Investment Calculators · Canada

FHSA growth.

Plan your First Home Savings Account: tax-deductible contributions like an RRSP, tax-free growth like a TFSA, capped at $8,000 per year and $40,000 lifetime.

Inputs

$
Annual limit: $8,000. Lifetime limit: $40,000.
$
Maximum FHSA lifetime: 15 years.
%

Home purchase power

Fill the form and press Calculate.

About the FHSA

The First Home Savings Account combines the tax deduction of an RRSP with the tax-free withdrawals of a TFSA when used for a qualifying first home. Unused contributions can be transferred to your RRSP tax-free. The account must be closed within 15 years of opening, or at age 71, whichever comes first.

Disclaimer

Educational only. Always verify FHSA eligibility and contribution room with CRA and consult a qualified financial advisor.