I opened an FHSA, but no longer want to use it on my first property. What are my options?
You can transfer your funds to an RRSP
or RRIF
without affecting your contribution room.
If you decide to withdraw your funds, 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.
Related questions
FHSA, RRSP or TFSA, which one to choose?Your RRSP (HBP), TFSA and FHSA are attractive savings programs for first-time buyers. Discover their distinct advantages.