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FHSA Calculator
See how your First Home Savings Account can grow tax-free. Contribute up to $8,000/year (lifetime max $40,000) and withdraw tax-free for your first home.
$8,000
$1,000$8,000 (max)
5 years
1 year15 years (max)
5%
1%10%
30%
20%53%
Your combined federal + provincial marginal tax rate
Total FHSA Value
$45,526
Tax-free withdrawal for your first home
Breakdown
Your Contributions$40,000
Investment Growth+$5,526
Tax Deduction Savings+$12,000
Total Benefit$57,526
The FHSA combines the best of RRSP (tax-deductible contributions) and TFSA (tax-free withdrawals) for first-time home buyers.