Complete this schedule to calculate your first home savings account (FHSA) deduction for 2023 and any unused FHSA contributions available to deduct in future years if, in 2023, you opened one or more FHSAs and did any of the following:

• 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

If you only opened an FHSA (or FHSAs) and did not make any contributions, transfers or withdrawals, tick the box at line 68930 in Step 1 and leave the rest of the schedule blank. Attach a copy of this schedule to your paper return.

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

Attach a copy of this schedule to your paper return.

Step 1: Did you open an FHSA in 2023?

Did you open any FHSA in 2023? (Box 68930 below will be populated automatically.)

Yes  No

Tick this box if you opened one or more FHSAs in 2023;.

68930

If you opened one or more FHSAs but did not make any contributions, transfers or withdrawals as described above, leave the rest of the schedule blank and attach a copy of this schedule to your paper return. If you did make contributions, transfers or withdrawals in 2023 as described above, continue at Step 2.

Step 2: Calculate your annual FHSA limit for 2023

Total contributions made to your FHSAs in 2023 (box 18 of your 2023 T4FHSA slips)															68935				1
Total contributions made to your FHSAs in 2023 after your first qualifying withdrawal															68940	-			2
Line 1 minus line 2																=			3
Total amount of designated withdrawals from your FHSAs made in 2023 (box 38 of your 2023 T4FHSA slips)															68945	-			4
Line 3 minus line 4 (if negative, enter "0")																=			5
															6
Total transfers made from your RRSPs to your FHSAs in 2023; (boxes 32 and 34 of your 2023 T4FHSA slips)											68950	-			7
Line 6 minus line 7 (if negative, use brackets)												=			8
Total amount of designated transfers from your FHSAs to your RRSPs or RRIFs made in 2023 (box 36 of your 2023; T4FHSA slips)											68955	+			9
Line 8 plus line 9 (if negative, enter "0")												=			10
Enter whichever is less: amount from line 5 or line 10.									Annual FHSA limit for 2023							=			11

 

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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 11																			12
Lifetime FHSA limit															13
Amount from line 7												-			14
Line 13 minus line 14 (if negative, use brackets)												=			15
Amount from line 9												+			16
Line 15 plus line 16 (if negative, enter "0")												=			17
Enter whichever is less: amount from line 12 or line 17.					Maximum FHSA deduction available for 2023														18
Amount from line 5																			19
Enter the FHSA contributions you are deducting for 2023 (cannot be more than the amount on line 18). Enter this amount on line 20805 of your return.										FHSA deduction for 2023						-			20
Line 19 minus line 20					Your unused FHSA contributions available to deduct in future years											-			21

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 2023 (box 20 of your 2023 T4FHSA slips)															68960				22
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