First-home account hub
FHSA Hub for First-Time Home Buyers
The FHSA can combine a deduction with a tax-free qualifying home withdrawal, but only when the eligibility, timeline, and home-buying goal line up.
Start here
The practical order of operations
1
Check eligibility and first-time home buyer status before opening or contributing.
2
Use the FHSA calculator to estimate tax savings, room, and projected balance.
3
Compare FHSA against RRSP Home Buyers Plan and TFSA if the down payment timeline is uncertain.
What people often miss
Where generic advice breaks down
Unused participation room is limited; opening timing can matter.
A non-qualifying withdrawal can become taxable, changing the whole strategy.
The FHSA is less useful if a first-home purchase is unlikely or too far outside the account timeline.
FHSA calculators and tools
FHSA guides and explainers
Official sources
Official FHSA sources to verify
These primary Canadian references are linked directly so readers can verify rules, limits, and government guidance before acting on an estimate.
CRA: First Home Savings AccountOfficial FHSA eligibility, annual room, lifetime limits, withdrawals, and transfer rules.CRA: Contributing to your FHSAsAnnual limits, carryforward treatment, deductible contributions, and participation room.CRA: Withdrawals and transfers from FHSAsQualifying withdrawal rules, taxable withdrawals, and transfer treatment.