FHSA Contribution Room Calculator
The First Home Savings Account (FHSA) gives you $8,000 of contribution room a year, up to $40,000 in total, starting the year you open it. Enter what you put in each year to see how much room you have left.
Include transfers from your RRSP. Do not subtract withdrawals: they do not give back room.
Your FHSA Contribution Room for 2026:
$8,000
Lifetime room left: $40,000 of $40,000
About FHSA Contribution Room
- You can open an FHSA if you are a Canadian resident, at least 18, under 72, and a first-time home buyer (you have not lived in a home you or your spouse owned this year or in the past 4 calendar years).
- Your room is $8,000 a year, starting in the year you open your first FHSA.
- Unused room carries forward, but only up to $8,000. For example, if you open an account in 2025 and put in nothing, you have $16,000 of room in 2026, not $24,000.
- The lifetime limit is $40,000, no matter how many years you have the account.
- Contributions are tax-deductible like an RRSP, and a qualifying withdrawal to buy your first home is tax-free like a TFSA.
- Unlike the RRSP, contributions in the first 60 days of the year count for the current year, not the year before.
- Saving in a TFSA too? Use the TFSA contribution room calculator.
Annual FHSA Contribution Limits
| Year | Contribution Limit |
|---|---|
| 2026 | $8,000 |
| 2025 | $8,000 |
| 2024 | $8,000 |
| 2023 | $8,000 |
Lifetime limit: $40,000
Frequently Asked Questions
What is the FHSA contribution limit?
You can contribute $8,000 a year to a First Home Savings Account (FHSA), up to $40,000 in your lifetime. If you do not use all of your $8,000 in a year, up to $8,000 of unused room carries forward, so the most you can contribute in one year is $16,000.
Does FHSA room build up before I open an account?
No. Unlike a TFSA, FHSA room only starts in the year you open your first FHSA. If you open one in 2026, you get $8,000 for 2026 and nothing for 2023 to 2025. Opening an account early, even with $0, starts your room.
Do FHSA withdrawals give back contribution room?
No. Withdrawals, including a qualifying withdrawal to buy your first home, do not add room back. Transfers from your RRSP to your FHSA also use up FHSA room.
What happens if I over-contribute to my FHSA?
The CRA charges a 1% tax per month on the amount over your room until you remove it or new room covers it at the start of the next year.