FHSA Contribution Planner

Project your First Home Savings Account balance, tax refunds, and contribution room over time.

Already contributed (lifetime)

Carry-forward room

Planned annual contribution

Max $8,000/yr plus carry-forward

Expected return rate

Your marginal tax rate

Years until home purchase

FHSA balance in 5 yrs

$46,415

$17,364 in total tax refunds over the period.

Total contributed$40,000

Investment growth$6,415

Total tax refunds$17,364

Cash available for down payment$46,415

Contribution room this year$8,000

Tax refund on this year's contribution$3,473

The FHSA must be used to buy a qualifying first home within 15 years of opening (or by the end of the year you turn 71); after that, unused funds can be transferred tax-free to an RRSP or RRIF. You can combine FHSA + RRSP Home Buyers' Plan for up to $100,000 in tax-advantaged down payment.

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The information presented on HousingPortal.ca is intended for general illustrative purposes only. While the information is believed to be reliable, it cannot be guaranteed for accuracy, completeness, or currency. Neither HousingPortal.ca and its employees, nor any other party identified in this guide/report, assumes any liability for the information provided. The views and opinions expressed by the analysts at HousingPortal.ca are their own and should not be considered as investment advice. It is recommended that you seek the advice of a licensed real estate professional before making any decisions regarding real estate investments.