First Home Savings Account (FHSA)
First Home Savings Account (FHSA)
Save for Your First Home with Tax Advantages.
The First Home Savings Account (FHSA) is a registered plan designed to help Canadians buy their first home faster. It combines the benefits of an RRSP and a TFSA—your contributions are tax-deductible, and your withdrawals (including investment earnings) are tax-free when used to purchase a qualifying home.
What Does an FHSA Offer?
Tax-Deductible Contributions – Reduce your taxable income while saving for your first home.
Tax-Free Withdrawals – Use your savings for a qualifying home purchase without paying taxes.
Annual Contribution Limit – Save up to $8,000 per year, with a lifetime limit of $40,000.
Investment Flexibility – Hold a variety of investments including stocks, bonds, ETFs, GICs, and more.
Carry-Forward Unused Room – Unused contribution room rolls over to future years.
Combine with RRSP’s Home Buyers’ Plan – Boost your purchasing power by using both programs together.
Who Can Benefit from an FHSA?
- First-time homebuyers looking for tax-efficient savings options
- Young professionals planning to purchase a home in the next 15 years
- Couples saving together for their first property purchase
- Anyone wanting to grow their home savings faster with investment returns
Why Choose Us?
Access to top FHSA investment options
Personalized savings strategies to reach your home-buying goal
Expert guidance on combining FHSA benefits with other programs
