RL-32: First Home Savings Account

The RL-32: First Home Savings Account is available for Québec residents who have opened a first home savings account (FHSA) and either:

  • made contributions,
  • transferred amounts from a registered retirement savings plan (RRSP),
  • designated withdrawals or transfers from your FHSA, to correct an overcontribution or
  • made withdrawals from your FHSA to buy or build a home.

A RL-32 and a T4FHSA must also be completed to calculate your FHSA deduction for 2024 and any unused contributions. Additionally, to report on contributions and withdrawals made throughout the year.

A first home savings account (FHSA) is a registered plan which allows a first-time home buyer, to save to buy or build a qualifying first home tax-free (up to certain limits).

Eligible individuals for a FHSA must meet all the following conditions:

  • 18 years of age or older
  • 71 years of age or younger as of December 31 the year the FHSA was opened
  • A resident of Canada living in Québec
  • You did not live in a qualifying home as your main residence that your spouse or common-law partner owned or jointly owned this year or in the previous 4 years.

Note: If a withdrawal is used to buy a home, it is not included in your income.

For more information, see Tax-Free First Home Savings Account (Québec).

The maximum amount you can contribute to an FHSA is $8,000 yearly, with a lifetime maximum of $40,000.

Any unused contribution room will be carried forward to the next year, up to a maximum of $8,000.

For example, Julia opened an FHSA in 2024 and contributed $8000 on December 31, 2024. This will be an FHSA deduction on her 2024 tax return. In 2025, she will have room to contribute $8000 again.

For more information, see Participating in your FHSAs.

Important: If you’re a resident of Québec, you’ll need to also claim the T4FHSA equivalent on the RL-32 page in H&R Block's tax software.

Follow these steps in H&R Block's 2024 tax software:

  1. On the left navigation menu, click the Government slips tab, then Smart Search.

  1. Type T4FHSA into the search field. Click the highlighted section or press Enter to continue.
  2. On the T4FHSA page, enter your information into the tax software.

Important: You can claim the federal T4FHSA on the Government slips tab in H&R Block's tax software.

Follow these steps in H&R Block's 2024 tax software:

  1. On the left navigation menu, click the Government slips tab, then Smart Search.

  1. Type RL-32 into the search field. Click the highlighted section or press Enter to continue.

  2. On the RL-32 page, enter your information into the tax software.