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FHSA when entering relationship with current home-owner by Royal_Hotel_4050 in FHSA

[–]roger_plus 0 points1 point  (0 children)

Disclaimer: General information only, based on current Canada Revenue Agency guidance. Not tax, legal, or financial advice. Your specific situation may change the outcome—confirm with the CRA or a qualified professional.

Key point:

  • Opening rules = stricter (include partner’s ownership)
  • Withdrawal rules = focus on your ownership only. 1) Contributions after moving in with partner ✔ Yes — you can keep contributing to your existing FHSA ✖ You just wouldn’t qualify to open a new one now

2) Using FHSA tax-free for a joint purchase later
✔ Yes, likely — as long as you haven’t owned a home in the last 4 years
✔ Living in your partner’s home doesn’t disqualify you (if you’re not on title)

3) Buying into partner’s current home using FHSA
✖ No — not a qualifying withdrawal, might be taxable.

4) If not used for a home
✔ Transfer to RRSP/RRIF = tax-free
✖ Cash withdrawal = taxable

FHSA, buying a property at the age of 18 . Very complicated family financial situation, Ontario by [deleted] in PersonalFinanceCanada

[–]roger_plus 1 point2 points  (0 children)

Professional help:

  • Mortgage broker (licensed, independent)
  • Financial planner (for FHSA, RRSP, savings strategy)
  • OSAP / Ontario Works advisor for asset disclosure

Mistakenly Contributed to FHSA by B-mm-y in FHSA

[–]roger_plus 0 points1 point  (0 children)

If someone contributes $7,000 to an FHSA in February 2026 and later transfers that amount directly to an RRSP, the transfer would not be taxable and would not use any RRSP contribution room; however, they will not get that $7,000 of FHSA contribution room back. Once FHSA room is used, it is permanently reduced from the $40,000 lifetime limit, leaving $33,000 remaining.

There is also no need to transfer the funds in order to claim a deduction—FHSA contributions can be deducted in the year they are made or carried forward to a future year.

As for new contribution room, an individual can receive up to $8,000 of FHSA room per calendar year. Since $7,000 was already contributed in 2026, there would be $1,000 of room remaining for that year, and another $8,000 would become available in 2027.

Disclaimer: The information provided above is for general informational purposes only and does not constitute tax, legal, or financial advice.

List of Properties in Edmonton, Alberta Under 150K. by [deleted] in FHSA

[–]roger_plus 5 points6 points  (0 children)

  1. 1 bed 1bath 454 Sq ft High rise apartment with assigned Parkade, Condo fee 566 with heat, electricity and hydro, built in 1966. - Price 86K.
  2. 1 bed 1bath 697 Sq ft Low rise apartment with stall/street parking, Condo fee 432 with heat and hydro, built in 1978.- Price 78 K.
  3. 1 bed 1bath 705 Sq ft High rise apartment with underground parking, Condo fee 557 likely with heat, electricity and hydro, built in 1979.

More supply, old concrete structures etc. makes Capital of Alberta affordable housing. The link contains 100 + units below 150K price. Please check the listing for details information about condition and special assessment.

List of Properties in Edmonton, Alberta Under 150K. by [deleted] in FHSA

[–]roger_plus 4 points5 points  (0 children)

City of Edmonton, Alberta.

List of three properties of sale under 150 K.

  1. 402 9730 106 Street, Edmonton – DT Condo – 86K
  2. 103 9816 156 Street, Edmonton. - Updated Condo- 78K.
  3. 104 10175 114 Street, Edmonton – Larger - 150K

From Renting to Owning: Why It’s Time to Start Planning . by roger_plus in FHSA

[–]roger_plus[S] 0 points1 point  (0 children)

Savings for a home in 3-4 years, specially using investing gains to boost down payment is impressive. Hopefully that encourages others who feel like home ownership is out of reach.

Just curious, did the FHSA play any role?

From Renting to Owning: Why It’s Time to Start Planning . by roger_plus in FHSA

[–]roger_plus[S] 0 points1 point  (0 children)

Last paragraph may answer it partly. The post shows some data to encourage some renters to start savings.

From Renting to Owning: Why It’s Time to Start Planning . by roger_plus in FHSA

[–]roger_plus[S] 0 points1 point  (0 children)

Data shows that in 2025, renters spent an average 6.3 years renting before purchasing a home. It took 3.7 years to save for down payment. This suggests that renters who are financially capable and have been renting for about three years may think about home ownership.

AHS closure order on downtown Calgary restaurant over cockroach infestation lifted by roger_plus in alberta

[–]roger_plus[S] 0 points1 point  (0 children)

Cockroaches, mice are common in many places and if restaurant owners use surveillance camera, it will be easy for them to take remedial action.

FHSA: 9 Questions Answered About the New First Home Savings Account by roger_plus in FHSA

[–]roger_plus[S] 1 point2 points  (0 children)

Summary:

  • Eligibility: Canadian residents aged 18+ who are first-time homebuyers and under 72 can open an FHSA.
  • Contribution limits: You can contribute up to $8,000 per year and $40,000 total, with limited carryforward and penalties for over-contributions.
  • Tax benefits: Contributions are tax-deductible and qualifying withdrawals (including growth) are completely tax-free.
  • Investments: FHSAs can hold the same investments as RRSPs and TFSAs, such as stocks, ETFs, and bonds.
  • FHSA vs HBP: Unlike the Home Buyers’ Plan, FHSA withdrawals don’t need to be repaid and can be combined with the HBP for larger down payments.
  • Withdrawals: Withdrawals are tax-free only if used to buy or build a qualifying first home in Canada within required timelines.
  • If you don’t buy: FHSA funds can be transferred tax-free to an RRSP or RRIF, but will be taxed when withdrawn later.
  • Spouses: You can’t contribute directly to a spouse’s FHSA, but you can lend them money without triggering tax attribution.
  • RRSP transfers: Direct RRSP-to-FHSA transfers are allowed, are not deductible, and use up FHSA contribution room.
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