🏡 Investments

First Home Savings Account

Save up to $40,000 tax-free toward your first home. The FHSA combines the best of an RRSP and TFSA — contributions are deductible AND withdrawals are tax-free.

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Key Benefits

('Contributions are tax-deductible like an RRSP', 'Qualifying withdrawals are tax-free like a TFSA', '$8,000/year annual limit, $40,000 lifetime max', "Transfer to RRSP if home purchase doesn't happen", "Combines with Home Buyers' Plan for more purchasing power", 'Interest/growth is tax-sheltered until withdrawal')

🏗️ Engineering Your Wealth

Just like a structure needs each component working together, your investments need to be coordinated with your insurance, tax situation, and retirement goals.

I provide a full financial picture — not just one product — so every dollar works harder for you.

Common Questions

Who qualifies?

You must be a Canadian resident, at least 18 years old, and a first-time home buyer (not owned a home you lived in during the current year or the preceding 4 calendar years).

How much can I contribute?

$8,000/year up to a lifetime maximum of $40,000. Unused annual room carries forward by one year only.

What if I don't buy a home?

If you don't use the funds within 15 years (or by age 71), you can transfer to your RRSP without using RRSP room — no tax consequences.

Can I combine with the Home Buyers' Plan?

Yes — you can use both the FHSA and the Home Buyers' Plan (from your RRSP) on the same qualifying home purchase, up to $75,000 combined.

First Home Savings Account

Key Benefits

🏗️ Engineering Your Wealth

Common Questions

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