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I maximized my TFSA for the year. Can I contribute to my FHSA?

Yes. The TFSA and FHSA are separate savings plans.

FHSA contribution limits

The lifetime contribution limit is $40,000. The annual limit is $8,000. You can also carry forward up to $8,000 of your unused contributions to the following year.

TFSA contribution limits

The TFSA contribution limit is $6,500 for 2023. Contribution room starts at age 18 and you can carry over unused contribution room to the following year.

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