How much can I put in an FHSA?

Up to $8,000 per year and $40,000 over its lifetime. Unused room (up to $8,000) carries forward one year.

Is the FHSA better than the RRSP Home Buyers' Plan?

The FHSA doesn't have to be repaid, unlike the HBP. Many first-time buyers use both — this calculator focuses on the FHSA's deduction and growth.

Calculators › Personal Finance & Tax › FHSA Calculator (Canada)

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FHSA Calculator (Canada)

Canada's First Home Savings Account is the best of both worlds: contributions are tax-deductible (like an RRSP) and growth and withdrawals for a first home are tax-free (like a TFSA). Enter your plan to see the refund you'll get and how big your down payment fund could grow.

Plan

Annual contribution max $8,000/yr

Years contributing max 5 active years

yrs

Your marginal tax rate

Expected return

%/yr

Total tax refund

CA$16,000

contributions are deductible

Projected balance

CA$45,097

Total contributed

CA$40,000

US$9.99 · download & own it forever

Prices in

✓ Includes the full toolkit. One purchase — this calculator already does everything these do, no add-ons: FHSA Contribution Room Calculator

How it's calculated

Contributions are capped at $8,000/year and $40,000 lifetime.
They're deductible, so your refund ≈ contributions × your marginal rate.
Balance grows tax-free; qualifying first-home withdrawals are tax-free too.

Our methodology & 2026 data sources →

Frequently asked questions

How much can I put in an FHSA?: Up to $8,000 per year and $40,000 over its lifetime. Unused room (up to $8,000) carries forward one year.
Is the FHSA better than the RRSP Home Buyers' Plan?: The FHSA doesn't have to be repaid, unlike the HBP. Many first-time buyers use both — this calculator focuses on the FHSA's deduction and growth.

FHSA Calculator (Canada)

Plan

How it's calculated

Frequently asked questions

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