Canada's most powerful home-buying account — tax deductible going in AND tax-free coming out. Check if you qualify, calculate your room, and model your growth year by year.
Step 1 — Eligibility Check
Answer 4 questions to confirm you qualify for the FHSA.
Good news for newcomers: You do NOT need to be a permanent resident or citizen. Work permit holders and study permit holders who file Canadian taxes qualify. Visitors and non-residents do not.
Yes — I file taxes in Canada
No
Yes, I own a home
No
Yes
No
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Answer the questions above
Your FHSA eligibility will appear here once all four questions are answered.
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Not eligible for FHSA right now
Step 2 — Account Status
Have you opened your FHSA yet? Room accumulates from the day you open the account.
Yes, I have one open
Not yet
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Open your FHSA today — even if you can't contribute yet
Your $8,000 annual room starts accumulating from the year you open the account, not the year you contribute. Every year you delay costs you $8,000 of tax-free room. You can open one with any major bank or Wealthsimple in minutes. Room and projections below assume you open this year (2026).
The FHSA Advantage
The only Canadian account with both RRSP-style deductions AND TFSA-style tax-free withdrawals.
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Tax deductible going in
Like an RRSP — contributions reduce your taxable income this year. Get a refund cheque from CRA.
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Tax-free coming out
Like a TFSA — qualifying home withdrawals are 100% tax-free. No repayment required.
✨ No other Canadian account gives you both benefits — not TFSA, not RRSP, not HBP alone
Projections are estimates for planning purposes. FHSA rules may change — confirm current contribution limits and eligibility at canada.ca before contributing.