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Schedule 15, FHSA Contributions, Transfers and Activities, reports First Home Savings Account activity and calculates the FHSA deduction on line 20805.
WHEN IT IS REQUIRED
WHEN IT IS REQUIRED
Every individual who opened an FHSA or held one at any time in the year must complete Schedule 15, even if they made no contributions, because it reports the opening date and calculates participation room.
MAIN PARTS
MAIN PARTS
Date the first FHSA was opened.
FHSA participation room for the year (from the previous year's Notice of Assessment).
Contributions made during the year, as reported by the FHSA issuer.
Transfers in from RRSPs (not deductible).
Transfers out to RRSPs or RRIFs and qualifying withdrawals.
FHSA deduction claimed and undeducted contributions carried forward.
Any excess FHSA amount subject to the 1 percent monthly tax.
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