Ridge 2: Cash Flow & Accumulation
New Build Savings Calculator
See how the FHSA, RRSP Home Buyers' Plan, and the new Bill C-4 GST rebate could work together to support your first home purchase. Estimates only.
Important: This calculator provides estimates based on the inputs you provide. Actual results depend on individual eligibility, investment returns, and tax circumstances. This is not financial advice. A licensed professional can help determine whether these strategies are suitable for your situation.
Max $8,000/yr, $40,000 lifetime per person
Max $60,000 per person under HBP
FHSA Withdrawal
$88,410
2 x $44,205 | May be withdrawn tax-free if qualifying conditions are met
HBP Withdrawal
$120,000
2 x $60,000 | Withdrawn from RRSP without immediate tax
Bill C-4 GST Rebate
$32,500
Full rebate (home under $1M)
Combined Estimated Savings
$240,910
Approximately 37.1% of $650,000 home price
Free consultation with a licensed advisor
Savings by Home Price (Couple)
How the three programs combine at different price points, based on your inputs above.
| Home Price | FHSA | HBP | GST Rebate | Total | % of Price |
|---|---|---|---|---|---|
| $500,000 | $88,410 | $120,000 | $25,000 | $233,410 | 46.7% |
| $650,000 | $88,410 | $120,000 | $32,500 | $240,910 | 37.1% |
| $800,000 | $88,410 | $120,000 | $40,000 | $248,410 | 31.1% |
| $1,000,000 | $88,410 | $120,000 | $50,000 | $258,410 | 25.8% |
| $1,250,000 | $88,410 | $120,000 | $31,250 | $239,660 | 19.2% |
| $1,500,000 | $88,410 | $120,000 | $0 | $208,410 | 13.9% |
GST rebate applies to new homes only (Bill C-4, Royal Assent March 12, 2026). Full rebate on homes up to $1M, linear phase-out $1M-$1.5M, no rebate above $1.5M. Program expires December 31, 2030.
How the Three Programs Work Together
FHSA (Tax-Free)
Contribute up to $8,000/year ($40,000 lifetime). Contributions are tax-deductible. If qualifying conditions are met, the full balance can be withdrawn tax-free for a first home purchase. No repayment required.
HBP (Tax-Deferred)
Withdraw up to $60,000 from your RRSP without immediate tax. Must be repaid over 15 years. For withdrawals made between Jan 1, 2022 and Dec 31, 2025, the repayment grace period is extended to 5 years.
GST Rebate (Bill C-4)
First-time buyers of new homes can receive a rebate of up to $50,000 on the GST. Full rebate on homes up to $1M, phased out between $1M and $1.5M. Applies to agreements signed on or after March 20, 2025. Expires December 31, 2030.
Important Notes
- All projections are estimates based on the inputs provided and assumed growth rates. Actual investment returns will vary and are not guaranteed.
- FHSA eligibility requires being a first-time home buyer, a Canadian resident aged 18+, and having a valid SIN. The account must be open for at least one calendar year before withdrawal.
- HBP eligibility requires the RRSP funds to have been on deposit for at least 90 days before withdrawal. The buyer must be a first-time home buyer or meet other qualifying conditions.
- The Bill C-4 GST rebate applies only to newly constructed homes. Resale homes do not qualify. Provincial HST rebates may also be available depending on your province.
- The estimated tax refund from FHSA contributions assumes a combined marginal tax rate of approximately 30%. Your actual rate may differ.
- Five Ridge Financial Ltd. is licensed to provide insurance and segregated fund products in Alberta. Securities, mutual funds, and direct investment advice require separate licensing. This calculator is educational and does not constitute a recommendation.
Last reviewed: May 15, 2026 | Sources: Canada.ca (FHSA, HBP), Bill C-4 (Royal Assent March 12, 2026)