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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
How to open an RRSP online?Open an RRSP online and start saving for your retirement, the down payment on your first property, or your next tax return.