FHSA growth calculator

The FHSA (new in 2023) is the best of both worlds for first-home buyers: contributions are tax-deductible like an RRSP, and qualifying withdrawals are tax-free like a TFSA.

Starting amount

Contribution

Contribution frequency

Annual return (%)

Years

After 5 years

$46,537

$40,020You put in

$6,517Growth

16.3%Total gain

Educational estimate — not individualized financial advice. Assumes steady rates; excludes taxes and fees unless stated.

How it works

The FHSA allows $8,000/year up to a $40,000 lifetime limit, and it's both deductible and tax-free for a qualifying first-home purchase. Because it's new, few competitors have solid FHSA tools — this fills that gap. Confirm eligibility with the CRA.