A First Home Savings Account (FHSA) allows first-time buyers to save for a home tax-free. Calculate your 2026 contribution room, unused carryforward, and estimated 2026 tax refund.
| Carryforward from Prior Years | $0 |
| Lifetime Room Remaining | $0 / $40,000 |
*Refund estimates based on combined 2026 federal and provincial marginal tax rates.
"In my 30 years as a BC Realtor, the FHSA has become a game-changer for buyers. For 2026, remember that you can combine your FHSA with the $60,000 Home Buyers' Plan (HBP). If you're a couple, that’s potentially $120,000 + FHSA totals for a down payment. Ensure your contributions are made by Dec 31, 2026, to maximize your tax refund for this year."
You can carry forward a maximum of $8,000 in unused participation room. This means your total contribution limit in 2026 cannot exceed $16,000, even if you have more unused room from prior years.
No. Unlike a TFSA, FHSA contribution room only begins to accumulate once you have officially opened an account. If you haven't opened one yet, your 2026 room will be $8,000.
Unlike an RRSP, FHSA contributions must be made by December 31, 2026, to be deductible on your 2026 tax return. There is no 'first 60 days of the next year' rule.
Yes! In 2026, you can combine your FHSA savings with a withdrawal from your RRSP under the HBP (up to $60,000) for a qualifying first home purchase.