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What happens to my FHSA if I don't use it to buy my first property within 15 years of opening it?

You’ll need to transfer your funds to an RRSP or RRIF without affecting your contribution room.

You may also withdraw your funds. If you decide to do so, the market value of your FHSA will be added to your income at the time of withdrawal. You’ll be responsible for the tax implications.

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