How to Use the FHSA Contribution Room Calculator
Step-by-step guide to the FHSA room calculator. Learn how annual limit, carry-forward, and lifetime limit work and how to use the tool whether you have an FHSA or not.
Estimated time: 5–10 minutes
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Choose whether you have an FHSA
If you don't have an FHSA yet, the calculator will show you that you would get $8,000 of contribution room for the current year if you open one. If you already have an FHSA, select Yes and continue.
Enter the year you opened your FHSA
FHSA contribution room only starts accumulating from the year you open the account (not from when you turned 18, unlike TFSA). Select the year you opened your account from the dropdown.
Enter total contributions in previous years
Enter the total amount you have contributed to your FHSA in all years before the current year. This is used to calculate your remaining lifetime room (lifetime limit is $40,000) and your carry-forward.
Enter contributions in the current year
Enter how much you have already contributed in the current year (or plan to contribute). This is subtracted from your maximum allowed contribution for the year to show remaining room or over-contribution.
Read your results
You'll see maximum contribution for the year (subject to lifetime limit), remaining room or over-contribution amount, and a breakdown of new room, carry-forward, and lifetime limit. If you're over-contributed, withdraw the excess to avoid penalty.
Understand the rules
Annual limit is $8,000. Unused room can carry forward up to $8,000 (so max $16,000 in one year). Lifetime limit is $40,000. You must be a first-time home buyer and meet other CRA eligibility rules. The calculator does not check eligibility—only room.