The First Home Savings Account (FHSA) was introduced by the federal government in 2023 to help first-time buyers save for a home. It combines the best of both registered accounts: contributions are tax-deductible like an RRSP, and qualifying withdrawals are completely tax-free like a TFSA. The annual contribution limit is $8,000 and the lifetime maximum is $40,000. Unused annual room carries forward - but only up to $8,000 per year. This calculator shows your projected FHSA balance at your target purchase year, factoring in tax savings on contributions and tax-free growth. It also models the Home Buyers' Plan (HBP) alongside the FHSA so you can see the combined purchasing power. You must be a Canadian resident, at least 18 years old, and a first-time buyer to open an FHSA.