$8,000 a year, $40,000 for life — with the tricky one-year carry-forward rule done for you.
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The golden rule: FHSA room only starts building after you open the account — unlike a TFSA, there's no retroactive room. If you haven't opened one yet and a first home is in your future, opening it (even empty) starts your clock.
Your contributions
Room accrues only for this year onward.
Room left for 2026
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Lifetime contributed
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Lifetime room remaining
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Year-by-year breakdown
Year
Room available
Contributed
Carried to next year
Over-contribution detected. FHSA over-contributions are penalized at 1% per month on the excess. Withdraw or re-designate the excess promptly.
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How the carry-forward works
Each year you get $8,000 of new room (once the account is open).
Unused room carries forward one year only, up to $8,000. So the most room you can ever have in a single year is $16,000.
Lifetime cap: $40,000 of total contributions. Contributions are tax-deductible; qualifying withdrawals for a first home are tax-free.
Unused FHSA amounts don't vanish if you never buy — the account can transfer to your RRSP without using RRSP room.
Keep in mind
Unlike RRSPs, there's no 60-day rule: January contributions count for that calendar year only.
Estimate only — confirm with CRA My Account. Not tax advice.
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