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What is the FHSA contribution limit?
The lifetime contribution limit is $40,000. The annual limit is $8,000.
Good to know
- This includes transfers from your RRSP.
- Contribution room accumulates as soon as you open an account.
- Contributions must be made within the current calendar year (there is no 120-day deadline like with an RRSP).
Related questions
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How to withdraw money from my TFSA? Here’s how to withdraw money from your TFSA. You should receive the funds in your National Bank account instantly. -
FHSA, RRSP or TFSA, which one to choose? Your RRSP (HBP), TFSA and FHSA are attractive savings programs for first-time buyers. Discover their distinct advantages. -
When will I receive my tax slips? Find out when your tax slips are due for the tax season. -
What is the minimum age for contributing to an RRSP? Find out at which age you can open an RRSP. -
Can I use multiple savings plans for my down payment? You can combine your RRSP (HBP), TFSA and FHSA when purchasing a property.
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