OngoingFederalOther incentives

First Home Savings Account (FHSA)

Canada Revenue Agency

Up to $8K

Your FHSA participation room in the first year you open your FHSA is $8,000

A registered plan that lets first-time home buyers save for a qualifying first home tax-free, with deductible contributions.

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How to apply

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Step-by-step application guide

3 steps, the documents to prepare, prerequisites and the right contact. Included in Plus ($29.99/month) and above.

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First-time home buyers who open an FHSA with a participating financial institution; limits and eligibility conditions are on the CRA FHSA pages.

Individuals

Funding: Only the first-year room was confirmed from the page read; annual and lifetime limits are on linked CRA pages.

amount“Your FHSA participation room in the first year you open your FHSA is $8,000.” source ↗
status“Contributions to an FHSA are generally deductible and can be used to reduce your tax.” source ↗

Verified 2026-10-07 · High confidence. Always confirm on the official page before applying.