01
Tax-Deductible Contributions
Contributions to your FHSA reduce your taxable income for the year, offering immediate and significant tax savings.
WHAT IS AN FHSA?First Home Savings Account (FHSA) Canada:
First Home Savings Account (FHSA) Canada:
Plan Your First Home Tax-Free
The First Home Savings Account (FHSA) is a powerful registered savings plan designed specifically to help Canadians buy their first home. It elegantly combines the best features of both an RRSP and a TFSA.
You can contribute up to $8,000 per year, with a lifetime limit of $40,000. Your contributions are completely tax-deductible (like an RRSP), reducing your taxable income and potentially triggering a tax refund.
Inside the account, your investments grow completely tax-free. When you are ready to buy your qualifying first home, your withdrawals—including all the investment gains—are 100% tax-free (like a TFSA). It is the ultimate tool to fast-track your down payment.
FIRST HOME SAVINGS ACCOUNT
Your Path To Homeownership Made Simple
The FHSA combines the best advantages of both a TFSA and an RRSP. Here are the core benefits of utilizing this powerful savings vehicle:
02
Tax-Free Growth
Investment income and capital gains within the FHSA grow completely tax-free, accelerating your path to homeownership.
03
Tax-Free Withdrawals
Withdraw your funds without any tax penalty when purchasing a qualifying first home. Keep more money in your pocket.
04
Generous Lifetime Limits
Save up to $8,000 annually with a substantial $40,000 lifetime limit to build your ideal down payment.
05
Flexible Investment Options
Invest your funds in mutual funds, GICs, stocks, and ETFs to perfectly align with your risk tolerance and goals.
06
Unused Room Carry Forward
Missed a year? Up to $8,000 of unused contribution room can easily be carried forward to future years.
07
RRSP & RRIF Transfers
If you choose not to purchase a home, you can transfer unused FHSA funds tax-free directly to an RRSP or RRIF.
08
15-Year Savings Window
Enjoy a generous 15-year timeframe to save, invest, and make qualifying withdrawals for your new home.
APPLICATION PROCESS
Simple Steps To Start Saving
We help you build a customized investment plan.
Our advisors will help you find the best investment vehicles to grow your down payment securely and efficiently.
Apply NowStep 1
Free Consultation
Schedule a free meeting to discuss your home-buying timeline and financial goals.
Step 2
Personalized Plan
We design a customized FHSA contribution and investment strategy tailored to your needs.
Step 3
Account Setup
We handle the paperwork to seamlessly open and set up your registered FHSA account.
Step 4
First Investment
Start contributing, enjoy the immediate tax deductions, and watch your money grow tax-free.
FHSA ADVANTAGESThe Incredible Benefits Of The FHSA
The Incredible Benefits Of The FHSA
To Reach Your Homeownership Goal
The First Home Savings Account offers an unparalleled double tax advantage. It is specifically built to help Canadians afford their first home faster.
$8,000
Annual Limit & Tax Deductions
Every dollar you contribute reduces your taxable income for the year, giving you a massive upfront tax advantage.
- Maximum $8,000 contribution per year
- Reduces your annual taxable income
- Carry forward up to $8,000 of unused room
- Get larger tax refunds immediately
$40,000
Lifetime Contribution Limit
Build a substantial down payment by maximizing your lifetime contribution room over just 5 years.
- Maximum $40,000 total lifetime limit
- Hold stocks, mutual funds, GICs, & ETFs
- Accelerated growth with compounding interest
- Account can stay open for up to 15 years
$0
Tax-Free Withdrawals
Unlike the RRSP Home Buyers' Plan (HBP), you never have to pay the money back if used for a qualifying home.
- 100% tax-free withdrawals for your home
- Investment gains inside account are tax-free
- No requirement to repay the withdrawn funds
- Can be combined with the RRSP HBP
*Pricing isn’t one‑size‑fits‑all — it shifts based on your age, your health, and the provider.
*Pricing isn’t one‑size‑fits‑all — it shifts based on your age, your health, and the provider.
TAX-FREE HOME SAVINGSYour Dream
Your Dream
Home,
Closer Than Ever.
Fast-track your journey to homeownership. Enjoy tax-deductible contributions and tax-free growth with the First Home Savings Account (FHSA).
APPLICATION PROCESS
How To Start Investing In An FHSA
We help you build a customized investment plan.
Our advisors will find the best investment vehicles (GICs, ETFs, or Mutual Funds) to grow your down payment securely.
Apply NowStep 1
Free Consultation
Schedule a free meeting to discuss your home-buying timeline and financial goals.
Step 2
Personalized Plan
We design a customized FHSA contribution and investment strategy tailored to your risk tolerance.
Step 3
Account Setup
We handle the paperwork to seamlessly open and set up your registered FHSA account.
Step 4
Make Your First Investment
Start contributing, enjoy the immediate tax deductions, and watch your money grow tax-free.
STANDARD CONDITIONSAre You Eligible
Are You Eligible
For an FHSA?
To open and contribute to an FHSA, you need to meet the strict criteria established by the Canadian government. Make sure you qualify before depositing funds.
Residency & Age:
You must be a Canadian resident and have reached the age of majority (18 or 19) in your province, but not older than 71.
First-Time Homebuyer:
You, or your spouse/common-law partner, must not have owned and lived in a qualifying home in the current year or the previous four calendar years.
One Account Limit:
You cannot contribute beyond the $40,000 lifetime limit across all FHSA accounts held.
15-Year Window:
The account can stay open for up to 15 years, giving you plenty of time to save and invest.
WITHDRAWAL RULESConditions For Withdrawing
Conditions For Withdrawing
Funds Tax-Free
What happens when you are finally ready to buy, or if you decide not to buy a home at all? The FHSA is built to be highly flexible.
No Tax Penalties:
Withdraw funds 100% tax-free when purchasing a qualifying first home.
Transfer Options:
If you don't end up buying a home, you can transfer the funds tax-free to an RRSP or RRIF without affecting your RRSP room.
Written Agreement:
To withdraw tax-free, you must have a written agreement to purchase or build a qualifying home.
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FHSA FAQSCommon FHSA Questions
Common FHSA Questions
And Answers
Yes, you can contribute to both accounts simultaneously! Keep in mind that each account has its own independent contribution limits. Combining the FHSA with the RRSP Home Buyers' Plan (HBP) is an incredibly powerful strategy to maximize your down payment.
Knowledge Hub
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