Ask a Planner

By Allan Norman, MSc, CFP, CIM on January 30, 2026
Estimated reading time: 5 minutes

By Allan Norman, MSc, CFP, CIM on January 30, 2026
Estimated reading time: 5 minutes

Short answer: Yes. But to take advantage of this amazing tax shelter, you need to understand the CRA’s rules and definitions.

I contributed $16,000 to my FHSA and last summer I got married. Soon after, my wife purchased a condominium, in her name only, where we both live. I checked with the Canada Revenue Agency (CRA) to see if I can still contribute to my FHSA because it is my wife’s condo, not mine. We plan to stay in this place for a few more years and then sell and buy a larger home. I was told it is still okay to contribute but I want to make sure before contributing this year.
—Shelly

Hi Shelly, congratulations on your marriage and your new condo purchase, even though it is in your wife’s name only. That was a good decision on both your parts, to put the condo in your wife’s name because that is the reason you are going to be able to use the first home savings account (FHSA) as you plan. Qualifying for an FHSA and the ability to use the funds for a new home is based on CRA’s definition of a first-time home buyer.

In CRA’s words, you are considered a first-time home buyer if:

… you did not, at any time in the current calendar year........

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