A first home savings account (FHSA) is a registered plan allowing you, as a prospective first-time home buyer, to save for your first home tax-free (up to certain limits).

Dec 2, 2024 · Generally, your FHSA participation room for the year is the maximum amount that you may contribute or transfer to your FHSAs in the year without creating an excess FHSA amount. Your …

Aug 15, 2024 · Opening your FHSAs Find out who is eligible to open a first home savings account (FHSA) and how to open an account. On this page Who can open an FHSA How to open an FHSA …

Jan 8, 2026 · Withdrawals and transfers out of your FHSAs You may want to take property out of your first home savings account (FHSA) to buy your first home, or for another purpose. You may want to …

Jan 1, 2024 · The contribution period for your FHSAs is a calendar year (January to December). If you opened an FHSA in 2024, you may be able to deduct contributions you made to your FHSAs …

Form RC226, Application for an FHSA identification number Each issuer is required to get an FHSA identification number from the CRA. To do so, the issuer must complete Form RC226, Application for …

Aug 27, 2024 · Your FHSA participation room for the year is the maximum amount that you can contribute to your FHSAs or transfer from your RRSPs to your FHSAs in the year without creating an …

Feb 14, 2023 · In Budget 2022, the Government proposed the introduction of the Tax-Free First Home Savings Account (FHSA). This new registered plan would give prospective first-time home buyers …

Aug 2, 2024 · Investments in your FHSAs A first home savings account (FHSA) is required to limit its investments to qualified investment . Generally, the types of investments that are permitted in an …

Dec 21, 2023 · Down payment estimator Estimate how much you can save for your down payment by participating in a tax-free first home savings account (FHSA).