A first home savings account (FHSA) is a registered plan which allows you, if you are a first-time home buyer, to save to buy or build a qualifying first home tax-free (up to certain limits).
If you opened an FHSA in 2024, you can claim up to $8,000 in FHSA contributions you made by December 31, 2024, as an FHSA deduction on your 2024 income tax and benefit return.
At WTC, our licensed financial advisor can help you complete the applications to open this account.
