Free calculator · 2026 rates

FHSA Calculator: Room, Growth & Tax Savings

The First Home Savings Account combines an RRSP-style deduction with TFSA-style tax-free withdrawals for a first home. Estimate your 2026 room and how your savings could grow.

Projected FHSA balance at purchase

Withdrawn tax-free for a qualifying first home.

Room available in 2026

Lifetime room left

Carry-forward into 2026

Total tax savings

Total you contribute$0

Investment growth$0

Tax refunds from deductions$0

Effective boost to your down payment$0

Contributions are capped at your available room and the $40,000 lifetime limit. Tax savings assume each deduction is claimed in the year contributed at your 2026 rate.

How this calculator works

$8,000 of room a year, a $40,000 lifetime limit, and up to $8,000 of unused room carried forward (none in the year you open your first FHSA).
Tax savings use your estimated marginal rate from our 2026 Ontario tax engine.
Projection assumes contributions at the start of each year and a constant return; actual returns vary.

Important

Results are estimates for general information, based on 2026 federal and Ontario figures verified October 27, 2026. Federal Budget 2026 (November 5, 2026) may change some amounts. Your actual tax depends on credits, deductions and circumstances not captured here.

Get help with Personal Tax (T1)

Frequently asked questions

Who qualifies as a first-time home buyer for the FHSA?

You must not have lived in a home you (or your current spouse or common-law partner) owned at any time in the current year or the previous four calendar years.

How long can I keep an FHSA open?

Until December 31 of the year of the earliest of: the 15th anniversary of opening your first FHSA, turning 71, or the year after your first qualifying withdrawal.

What if I don’t buy a home?

You can transfer the balance tax-free to your RRSP or RRIF without using RRSP room.

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