Complete this schedule to calculate your first home savings account (FHSA) deduction for 2024 and any unused FHSA contributions available to deduct in future years. Also complete this schedule to let the CRA know that you opened your first FHSA or became a successor holder in 2024.

For more information about FHSAs, go to canada.ca/fhsa.

Attach a copy of this schedule to your paper return.

Before you start

Gather your 2024 T4FHSA slips. If you opened an FHSA in 2023, you will also need your notice of assessment (NOA) or notice of reassessment (NOR) or Form T1028, Your RRSP, HBP, LLP, or FHSA Information for 2024

How to complete this schedule

Complete Step 1 only if you:

• You opened your first FHSA in 2024
• You did not open an FHSA of your own in 2023 or 2024 but you became a successor holder in 2024

For information about successor holders, go to canada.ca/geath-fhsa.

Complete Steps 2 and 3 if any of the following applies::

• You made contributions to your FHSAs in 2023 that you did not fully deduct on your 2023 return (your unused FHSA contributions available to deduct in 2024 are shown on your 2023 NOA/NOR or Form T1028)
• You opened an FHSA or became a successor holder in 2023 or 2024 and did any of the following in 2024:
  • made contributions to your FHSAs
  • transferred property from your registered retirement savings plans (RRSPs) to your FHSAs
  • made designated withdrawals from your FHSAs to reduce or eliminate an excess FHSA amount
  • made designated transfers from your FHSAs to your RRSPs or registered retirement income funds (RRIFs) to reduce or eliminate an excess FHSA amount
  • made qualifying withdrawals from your FHSAs to buy or build a home

Complete Step 4 if you made a qualifying withdrawal from your FHSA(s) in 2024 to buy or build a home.

If you need help

If you need help completing this schedule, go to canada.ca/income-tax-return-fhsa.

 

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Step 1: Did you open your first FHSA in 2024?

Please tick the applicable box below regarding the first home savings account (FHSA): (Box 68930 below will be populated automatically.)

You opened your first FHSA in 2024.

You did not open a FHSA in 2023 or 2024 but you became a successor holder in 2024.

None of the above.

Tick this box if you opened your first FHSA in 2024 or became a successor holder in 2024 and did not open another FHSA of your own in 2023 or 2024.

68930

If you also made FHSA contributions, transfers, or withdrawals in 2023 or 2024, continue at Step 2.

Step 2: Calculate your annual FHSA limit for 2024

Total contributions made to your FHSAs in 2024 (box 18 of your 2024 T4FHSA slips)															68935				1
Total contributions made to your FHSAs in 2024 after your first qualifying withdrawal															68940	-			2
Line 1 minus line 2																=			3
Variable "B" amount of your annual FHSA limit for 2023 (from your 2023 notice of assessment or reassessment, or Form T1028 for 2024)																+			4
Line 3 plus line 4																=			5
Total amount of designated withdrawals from your FHSAs made in 2024 (box 38 of your 2024 T4FHSA slips)															68945	-			6
Line 5 minus line 6 (if negative, enter "0")																=			7
																			8
Your FHSA carryforward for 2024 (from your latest NOA/NOR, or Form T1028 for 2024)																+			9
Line 8 plus line 9																=			10
Total transfers from your RRSPs to your FHSAs in 2023 (from your latest NOA/NOR, or Form T1028 for 2024)															11
Total transfers made from your RRSPs to your FHSAs in 2024; (boxes 32 and 34 of your 2024 T4FHSA slips)											68950	+			12
Line 11 plus line 12												=							13
Total designated transfers from your FHSAs to your RRSPs or RRIFs in 2023 (from your latest NOA/NOR, or Form T1028 for 2024)															14
Total amount of designated transfers from your FHSAs to your RRSPs or RRIFs made in 2024 (box 36 of your 2024; T4FHSA slips)											68955	+			15
Line 14 plus line 15 (if negative, use brackets)												=				-			16
Line 13 minus line 16									Net RRSP-to-FHSA amount							=			17
Amount form line 11															18
Amount form line 14												-			19
Net RRSP-to-FHSA transfer amount for 2023: Line 18 minus line 19 (if negative, enter "0")												=			20
Enter whichever is less: amount from line 20 or $8,000.																-			21
Line 17 minus line 21																=			22
Amount form line 10																			23
Amount form line 22																-			24
Line 23 minus line 24																=			25
Enter whichever is less: amount from line 7 or line 25.									Annual FHSA limit for 2024										26

 

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Step 3: Calculate your FHSA deduction and unused FHSA contributions available to deduct in future years

Annual FHSA limit from line 26																			27
Your annual FHSA limit from 2023 ((from your latest NOA/NOR, or Form T1028 for 2024)																+			28
Line 27 plus line 28																=			29
Your FHSA deduction for 2023 (from your latest NOA/NOR, or Form T1028 for 2024)																-			30
Line 29 minus line 30																=			31
Lifetime FHSA limit															32
Your FHSA deduction for 2023 from line 30												-			33
Line 32 minus line 33 (if negative, use brackets)												=			34
Net RRSP-to-FHSA transfer amount from line 17 of the previous page												-			35
Line 34 minus line 35 (if negative, enter "0")												=			36
Enter whichever is less: amount from line 31 or line 36.					Maximum FHSA deduction available for 2024														37
Your unused FHSA contributions available to deduct in 2024 (from your latest NOA/NOR, or Form T1028 for 2024)																			38
Amount from line 3 of the previous page																+			39
Line 38 plus line 39																=			40
Amount from line 6 of the previous page																-			41
Line 40 minus line 41																=			42
Enter the FHSA contributions you are deducting for 2024 (cannot be more than the amount on line 37). Enter this amount on line 20805 of your return.										FHSA deduction for 2024						-			43
Line 42 minus line 43					Your unused FHSA contributions available to deduct in future years											=			44
Note:	If you have an excess FHSA amount or you contributed some or all of your unused FHSA re-participation room, you may not be able to fully deduct your unused FHSA contributions in future years. For more information, go to canada.ca/contribute-transfer-too-much-fhsa.

Step 4: Did you make a qualifying withdrawal from your FHSA?

Complete this part if you withdrew from your FHSAs to buy or build a qualifying home. For more information about making qualifying withdrawals, go to canada.ca/withdrawals-fhsa.
Total amount of qualifying withdrawals made in 2024 (box 20 of your 2024 T4FHSA slips)															68960				45
Tick this box if the address on page 1 of your return is the same as the address of the home that you bought or built under the FHSA.															68965