Affording your first home can be hard.
We make saving for it easy.

Canadian housing prices continue to be extraordinarily high, and buying a home will be a challenge for many first time buyers. The First Home Savings Account (FHSA) can help you invest tax-free, and it makes sense to start saving now!

Here are some key points about the FHSA program, which was introduced by the Federal Government in early 2023:

  • Applies to Canadian residents aged 18-71 who didn’t live in a home they (or their spouse) owned in the last four years
  • You can contribute up to $8,000 per year, to a maximum contribution of $40,000 over 15 years
  • The annual deadline to contribute is December 31st
  • You have 15 years from the day you open the account to use your FHSA to purchase your first home

Here are some reasons to open and start contributing to your FHSA now:

  • Lower your taxable income by the amount of your contribution, with the credit deferrable to a later year if you desire
  • Contribution room only starts being available in the year you open your account
  • Only $8K of unused contribution room carries forward in any year, so you can never have more than $16,000 of contribution room
  • Your investment grows tax free as long as you purchase a qualifying first home – if you don’t end up buying a home, you pay tax on the gains, or you can transfer the money to your RRSP without affecting your RRSP contribution room
  • The sooner you open your account, the sooner it can begin growing
  • Justwealth’s target date portfolio management approach can help adjust the risk level of your FHSA investment as you get closer to cashing out your account to purchase your home

Open Your Justwealth FHSA Account Today!

What Justwealth says about our FHSAs…

View the Just Word podcast on FHSAs featuring Justwealth’s President Andrew Kirkland and CIO James Gauthier.  Watch the video below!

Learn More about Justwealth  FHSAs

CRA Site

View the Federal Government FHSA Website


View our low-cost & transparent fee structure


Portfolio performance and analytics

Have a question? Call us at 1.866.407.JUST