| T1-2023 | FHSA Contributions, Transfers and Activities |
Schedule 15 Protected B when completed |
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| Complete this schedule to calculate your first home savings account (FHSA) deduction for 2023 and any unused FHSA contributions available to deduct in future years if, in 2023, you opened one or more FHSAs and did any of the following: |
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| • | made contributions to your FHSAs | |||||||||||||
| • | transferred property from your registered retirement savings plans (RRSPs) to your FHSAs | |||||||||||||
| • | made designated withdrawals from your FHSAs to reduce or eliminate an excess FHSA amount | |||||||||||||
| • | made designated transfers from your FHSAs to your RRSPs or registered retirement income funds (RRIFs) to reduce or eliminate an excess FHSA amount |
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| • | made qualifying withdrawals from your FHSAs to buy or build a home | |||||||||||||
| If you only opened an FHSA (or FHSAs) and did not make any contributions, transfers or withdrawals, tick the box at line 68930 in Step 1 and leave the rest of the schedule blank. Attach a copy of this schedule to your paper return. |
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| For more information about FHSAs, go to canada.ca/fhsa. | ||||||||||||||
| Attach a copy of this schedule to your paper return. | ||||||||||||||
| Step 1: Did you open an FHSA in 2023? | ||||||||||||||
| Tick this box if you opened one or more FHSAs in 2023. | 68930 | |||||||||||||
| If you opened one or more FHSAs but did not make any contributions, transfers or withdrawals as described above, leave the rest of the schedule blank and attach a copy of this schedule to your paper return. |
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| If you did make contributions, transfers or withdrawals in 2023 as described above, continue at Step 2. | ||||||||||||||
| Step 2: Calculate your annual FHSA limit for 2023 | ||||||||||||||
| Total contributions made to your FHSAs in 2023 (box 18 of your 2023 T4FHSA slips) | 68935 | 1 | ||||||||||||
| Total contributions made to your FHSAs in 2023 after your first qualifying withdrawal | 68940 | – | 2 | |||||||||||
| Line 1 minus line 2 (if negative, enter "0") | = | 3 | ||||||||||||
| Total amount of designated withdrawals from your FHSAs made in 2023 | ||||||||||||||
| (box 38 of your 2023 T4FHSA slips) | 68945 | – | 4 | |||||||||||
| Line 3 minus line 4 (if negative, enter "0") | = | 5 | ||||||||||||
| 6 | ||||||||||||||
| Total transfers made from your RRSPs to your FHSAs in 2023 | ||||||||||||||
| (boxes 32 and 34 of your 2023 T4FHSA slips) | 68950 | – | 7 | |||||||||||
| Line 6 minus line 7 (if negative, use brackets) | = | 8 | ||||||||||||
| Total amount of designated transfers from your FHSAs to your RRSPs | ||||||||||||||
| or RRIFs made in 2023 (box 36 of your 2023 T4FHSA slips) | 68955 | + | 9 | |||||||||||
| Line 8 plus line 9 (if negative, enter "0") | = | 10 | ||||||||||||
| Enter whichever is less: | ||||||||||||||
| amount from line 5 or line 10. | Annual FHSA limit for 2023 | 11 | ||||||||||||
| 5000-S15 E (23) | (Ce formulaire est disponible en français.) | Page 1 of 2 | ||||||||||||
| Protected B when completed | ||||||||||||||
| Step 3: Calculate your FHSA deduction and unused FHSA contributions available to deduct in future years |
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| Annual FHSA limit from line 11 of previous page | 12 | |||||||||||||
| Lifetime FHSA limit | 13 | |||||||||||||
| Amount from line 7 of previous page | – | 14 | ||||||||||||
| Line 13 minus line 14 (if negative, use brackets) | = | 15 | ||||||||||||
| Amount from line 9 of previous page | + | 16 | ||||||||||||
| Line 15 plus line 16 (if negative, enter "0") | = | 17 | ||||||||||||
| Enter whichever is less: | ||||||||||||||
| amount from line 12 or line 17. | Maximum FHSA deduction available for 2023 | 18 | ||||||||||||
| Amount from line 5 of previous page | 19 | |||||||||||||
| Enter the FHSA contributions you are deducting for 2023 (cannot be more than the amount on line 18). |
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| Enter this amount on line 20805 of your return. | FHSA deduction for 2023 | – | 20 | |||||||||||
| Your unused FHSA contributions available | ||||||||||||||
| Line 19 minus line 20 | to deduct in future years | = | 21 | |||||||||||
| Step 4: Did you make a qualifying withdrawal from your FHSA? | ||||||||||||||
| Complete this part if you withdrew from your FHSAs to buy or build a qualifying home. For more information about making qualifying withdrawals, go to canada.ca/withdrawals-fhsa. |
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| Total amount of qualifying withdrawals made in 2023 (box 20 of your 2023 T4FHSA slips) | 68960 | 22 | ||||||||||||
| Tick this box if the address on page 1 of your return is the same as the address of the home | ||||||||||||||
| that you bought or built under the FHSA. | 68965 | |||||||||||||
| See the privacy notice on your return. | ||||||||||||||
| 5000-S15 E (23) | (Ce formulaire est disponible en français.) | Page 2 of 2 | ||||||||||||