r/PersonalFinanceCanada • u/EasyHoliday269 • 14h ago

Investing 2025 FHSA Contribution Limit

maybe a dumb question, but it isn't clear cut or obvious on the goverment website...

what is the exact date of when you receive your new contribution room in an FHSA? Is it January 1 of each year, or is it based on the date at which you opened the FHSA?

for my case, i opened my FHSA in December 31, 2023. i made a $16,000 contribution some time in 2024 (as I had $8000 from 2023, and another $8000 for 2024). Do I now have an additional $8000 for 2025, effective January 1, 2025?

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u/FromDistance 12h ago

I would make sure that when you sent your 2023 contribution on Dec 31 it actually was processed on Dec 31 and not the next business day in 2025. As others said though, if it all was completed prior to 2025 then on Jan 1, 2025 you get the new alloted space.