Canadian FHSA Growth & Tax Savings Estimator
The First Home Savings Account (FHSA) allows you to save for your first home tax-free (up to $40,000 lifetime, $8,000 annually). Contributions are tax-deductible (like an RRSP), and withdrawals for a qualifying home purchase are non-taxable (like a TFSA). Use this tool to project your savings and estimate your tax refunds.
Saving Plan Details
FHSA Projection
Estimated Tax Refund
Your total tax savings over the lifetime of these contributions.
Total Saved for Down Payment
Includes your contributions and tax-free investment growth.
*Disclaimer: The lifetime contribution limit for an FHSA is $40,000. Calculations assume contributions are made at the beginning of each year and interest is compounded annually. Actual tax refunds depend on your specific tax situation. This tool is for educational purposes only.
