Definition
Introduced April 1, 2023. Annual contribution limit $8,000 (carry-forward up to $8,000), lifetime limit $40,000. Contributions are tax-deductible (like an RRSP); qualifying withdrawals to buy a first home are tax-free (like a TFSA). Account must be closed by the end of the 15th year after opening or age 71, whichever is earlier.
Source
Income Tax Act; Department of Finance Canada FHSA backgrounder