General information only — not financial advice for your situation.
This is a learning tool. Always check CRA My Account records and talk to a qualified professional for your own numbers.
FHSA eligibility and room
Based on FHSA limits and eligibility rules from the shared data file.
Plain English
This calculator shows an estimate from the assumptions shown in the box above.
Show the math
The calculator uses the shared data files where tax constants are needed, and user-entered rates where the missing rule depends on your situation.
Worked examples
| Input | Output |
|---|---|
| Account open 2 years, $0 prior, deposit $8,000 at 30% rate | $8,000 room remaining, $2,400 immediate tax refund |
| Account open 2 years, $0 prior, deposit $16,000 at 40% rate | Uses full $16,000 carry-forward + current, $6,400 refund |
| Account open 1 year, deposit $10,000 | Over-contribution: $2,000 excess above $8,000 cap — triggers penalty |
What this does not account for
Credits, deductions, residency gaps, and account history that are not entered here.
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About this site
Every number on this site is sourced from CRA publications, the Income Tax Act, or provincial fiscal releases. We show the math, cite the sources, and never tell you what to do with your money.