TFSA contribution room calculator

Your room is the sum of every annual TFSA limit since the later of 2009 or the year you turned 18, minus what you have contributed, plus any amounts you withdrew in previous years. If you were 18 or older in 2009 and have never contributed, your 2026 room is the full cumulative total of $109,000. Enter your birth year and contributions above to see your exact figure.

The 2026 TFSA dollar limit is $7,000, the same as 2024 and 2025. The limit is indexed to inflation and rounded to the nearest $500, so it rises in $500 (occasionally $1,000) steps. Unused room never expires — it carries forward indefinitely and stacks on top of each new year's limit.

For someone who was at least 18 and a Canadian resident every year since the TFSA launched in 2009, the cumulative room through 2026 is $109,000. The yearly limits were $5,000 (2009–2012), $5,500 (2013–2014), $10,000 (2015), $5,500 (2016–2018), $6,000 (2019–2022), $6,500 (2023), and $7,000 (2024–2026).

Yes — but not immediately. Any amount you withdraw is added back to your contribution room on January 1 of the following year. So a withdrawal this year frees up room next year, not the same year. This calculator counts prior-year withdrawals as restored room; if you withdrew and re-contributed in the same year, you can accidentally over-contribute.

The CRA charges a penalty of 1% per month on the highest excess amount in your TFSA for each month the over-contribution stays in the account. On a $5,000 over-contribution that is $50 every month until you withdraw the excess. If you have over-contributed, take the excess out as soon as possible and consider filing form RC243.

The Tax-Free Savings Account launched on January 1, 2009. You accumulate room for every year you are 18 or older and a Canadian resident, even if you do not open an account. Room does not start accruing before you turn 18, so younger Canadians have a later start year and a smaller cumulative limit.

No. Interest, dividends, and capital gains earned inside a TFSA are completely tax-free, and withdrawals are tax-free too — they do not count as income and do not affect income-tested benefits like the OAS clawback. That is the key difference from an RRSP, which is tax-deferred. See our RRSP vs TFSA guide.

If your income is modest now or you expect to be in a similar or higher tax bracket in retirement, the TFSA often wins because withdrawals are tax-free. If you are a high earner who will drop into a lower bracket in retirement, the RRSP deduction may be worth more — use our RRSP tax refund calculator to compare. Many Canadians use both.

Your official room is shown in CRA My Account under "TFSA". Note that the CRA figure is only updated once a year after financial institutions report, so it can lag your real-time contributions. This calculator assumes you were a resident every year since you turned 18; if you had non-resident years, your actual room is lower.