12/19/2025
An FHSA (First Home Savings Account) is a Canadian registered plan letting first-time homebuyers save for a home with tax-deductible contributions (like an RRSP) and tax-free growth and withdrawals (like a TFSA). You can save up to $8,000/year (max $40,000 lifetime), and qualifying withdrawals to buy a first home are tax-free, making it a powerful tool for Canadian residents who are eligible first-time buyer. ♥️♥️