TFSA Contribution Room Calculator
Calculate your total TFSA contribution room based on when you turned 18.
Withdrawals from prior years add back to room Jan 1
Available TFSA Room
$38,000.00
Cumulative Limit
$78,000.00
Since 2015
2026 Annual Limit
$7,000
Already Contributed
$40,000.00
Withdrawal Room Added
$0.00
| Year | Limit | Cumulative |
|---|---|---|
| 2015 | $10,000.00 | $10,000.00 |
| 2016 | $5,500.00 | $15,500.00 |
| 2017 | $5,500.00 | $21,000.00 |
| 2018 | $5,500.00 | $26,500.00 |
| 2019 | $6,000.00 | $32,500.00 |
| 2020 | $6,000.00 | $38,500.00 |
| 2021 | $6,000.00 | $44,500.00 |
| 2022 | $6,000.00 | $50,500.00 |
| 2023 | $6,500.00 | $57,000.00 |
| 2024 | $7,000.00 | $64,000.00 |
| 2025 | $7,000.00 | $71,000.00 |
| 2026 | $7,000.00 | $78,000.00 |
TFSA Contribution Room, Withdrawals, and Penalties
The Tax-Free Savings Account accumulates contribution room for every year you are 18 or older and a Canadian resident. Annual limits have ranged from $5,000 (2009–2012) to $10,000 (2015) to $7,000 (2024–2026). If you have been eligible since the TFSA’s inception in 2009, your cumulative room for 2026 totals $109,000. Unused room carries forward indefinitely, so there is no penalty for not contributing in a given year—you simply accumulate more room for the future.
Withdrawals are where the TFSA truly shines. Any amount withdrawn is added back to your contribution room on January 1 of the following year. This means you can use a TFSA as both a long-term investment vehicle and an accessible emergency fund without permanently losing room. However, re-contributing in the same calendar year as a withdrawal counts against your current-year room and can create an over-contribution if you are not careful. Over-contributions are penalized at 1% per month on the excess amount, assessed and billed by CRA.
TFSA Annual Contribution Limits
| Period | Annual Limit |
|---|---|
| 2009–2012 | $5,000 |
| 2013–2014 | $5,500 |
| 2015 | $10,000 |
| 2016–2018 | $5,500 |
| 2019–2023 | $6,000–$6,500 |
| 2024–2026 | $7,000 |
All investment income earned inside a TFSA—interest, dividends, and capital gains—is completely tax-free, both while invested and upon withdrawal. Unlike the RRSP, contributions are not tax-deductible, but withdrawals are never added to taxable income and do not affect income-tested benefits like OAS, GIS, or the Canada Child Benefit. For Canadians who expect to be in a similar or higher tax bracket in retirement, the TFSA often provides a better after-tax outcome than the RRSP. Your exact contribution room is available through My CRA Account online.
Frequently Asked Questions
How is TFSA room calculated?
What is the maximum cumulative room?
Official Data Sources
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Built and reviewed by Konstantin Iakovlev · Data from CRA, CMHC, Bank of Canada · MethodologyDisclaimer: This calculator provides estimates based on publicly available data from CRA and other government sources. It does not constitute financial advice. Consult a qualified advisor for decisions about your specific situation.