Canada · Planning tools

FHSA Room and Deduction Planner

Plan how to use your First Home Savings Account room. Separate cash contributions from RRSP transfers and see why the room you use may differ from the deduction you can claim.

Your details

Your scenario

2026 FHSA participation and deduction arithmetic. Confirm opening year and room; stop for excess, qualifying-withdrawal, closure-period and special-account adjustments. Optional tax scenarios use the separate CA04 annual engine.

Planning year Has your first FHSA opened? First FHSA opening year Opening, residency and first-home eligibility confirmed No excess, closure, survivor or special adjustments Qualifying withdrawal status Confirmed unused carryforward into 2026 (CAD) Confirmed opening participation room (CAD) Lifetime contributions and RRSP transfers before 2026 (CAD) 2026 cash contributions across FHSAs (CAD) 2026 RRSP transfers into FHSAs (CAD) Prior unused deductible cash contributions (CAD) Intended FHSA deduction (CAD) Show optional CA04 annual-tax scenario? Age 18–64, full-year resident, ordinary income and listed credits only Province (annual tax model) Taxable/net income before FHSA deduction (CAD) Annual employment income before deductions (CAD) Annual base CPP eligible for tax credit (CAD) Annual EI eligible for tax credit (CAD) Ontario qualifying dependant units Ontario LIFT eligibility (choose No if ineligible) Other family adjusted net income for LIFT (CAD)

Entries stay in this browser. Examples use illustrative confirmations; replace them with your own checked details.

How to use this tool

Confirm eligibility and the year your first FHSA opened.
Enter contributions and transfers across your FHSAs.
Review participation room, lifetime usage and deductible contributions.

How the result is calculated

Cash contributions and qualifying transfers can both use participation room. Their deduction treatment differs, so the planner keeps separate ledgers.

Worked example

With an illustrative $8,000 of room, a $3,000 contribution and a $2,000 RRSP transfer leave $3,000 of room. The transfer does not create an extra $2,000 FHSA deduction.

What this result does not cover

Opening, residency, first-home and qualifying-withdrawal requirements must be satisfied. An account balance is not the same as available room.

Questions people ask

Does room build before I open an FHSA?

No. The first opening year matters.

Are RRSP transfers deductible again?

No. They do not create a new FHSA deduction.

Is the tax reduction a guaranteed refund?

No. Refunds depend on your complete return and payments.

Supported scope and official sources

Source snapshot: 22 October 2026. Independent specialist review is pending. Calculations do not confirm eligibility or replace official decisions.

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