TFSA Contribution Room
Find out how much you can contribute to your Tax-Free Savings Account.
Calculate your available TFSA contribution room based on your personal details.
Results
Contribution room in 2026
$109,000
Projected room in 2027
$116,000
Assumes $7,000 annual limit
Understanding Your TFSA
A Tax-Free Savings Account (TFSA) is a registered account introduced by the Canadian government in 2009. Any income earned within the account, including interest, dividends, and capital gains is completely tax-free, even when withdrawn.
Unlike an RRSP, contributions to a TFSA are not tax-deductible, but withdrawals are never taxed. This makes it one of the most flexible savings vehicles available to Canadian residents.
Contribution room accumulates every year starting from the year you turn 18 (or 2009, whichever is later), as long as you are a Canadian resident with a valid SIN.
Unused room carries forward indefinitely. If you withdraw money from your TFSA, that amount is added back to your contribution room at the beginning of the following calendar year.
Over-contributing results in a penalty tax of 1% per month on the excess amount.
| Year | Annual Limit |
|---|---|
| 2009 | $5,000 |
| 2010 | $5,000 |
| 2011 | $5,000 |
| 2012 | $5,000 |
| 2013 | $5,500 |
| 2014 | $5,500 |
| 2015 | $10,000 |
| 2016 | $5,500 |
| 2017 | $5,500 |
| 2018 | $5,500 |
| 2019 | $6,000 |
| 2020 | $6,000 |
| 2021 | $6,000 |
| 2022 | $6,000 |
| 2023 | $6,500 |
| 2024 | $7,000 |
| 2025 | $7,000 |
| 2026 | $7,000 |
| Total (2009–2026) | $109,000 |
- You must be 18 or older and a Canadian resident with a valid SIN to accumulate contribution room.
- Unused contribution room carries forward to future years, it never expires.
- Withdrawals are added back to your contribution room on January 1 of the next year.
- Over-contributions are subject to a 1% per month penalty tax on the excess amount.
- Transfers between your own TFSAs do not affect your contribution room.
- The annual limit is indexed to inflation and rounded to the nearest $500.