TFSA Contribution Calculator

Calculate your Tax-Free Savings Account contribution room

How to use this tool

Verify Your Contribution Room with CRA

This calculator provides an estimate only. Always verify your actual TFSA contribution room through your CRA My Account. Financial institutions may take time to report contributions and withdrawals, so CRA records may not reflect your most recent transactions. Using outdated data could result in accidental over-contributions.

Personal Information

Current Age: 36

Eligible since: 2009

$
$

Withdrawn amounts are re-added to your room on January 1 of the FOLLOWING year, not the same year.

$

Amount you intend to add this year. We check whether this would exceed your available room.

$

For the authoritative number, check CRA My Account. If filled, this overrides the auto-calculated room above.

Total Room
$109,000
18 years eligible
Current Room
$89,000
Auto-calculated from CRA limits

How your current room is calculated

Cumulative dollar limit (since eligibility)$109,000
Less: Lifetime contributions to date-$20,000
Plus: Prior-year withdrawals re-added+$0
Auto-calculated current room$89,000

2026 annual TFSA dollar limit: $7,000. Someone eligible since 2009 with no prior contributions has $109,000 of cumulative room at start of 2026.

Your Contribution Room History

TFSA Summary

Total Contribution Room$109,000
Already Contributed$20,000
Remaining Room$89,000

TFSA Tips & Important Rules

Withdrawals Are Re-Added the Following Year

When you withdraw money from your TFSA, that amount is added back to your contribution room — but only on January 1st of the following year. If you withdraw $5,000 in June and re-contribute it in October of the same year, you may be over-contributing. Wait until the next calendar year to re-contribute withdrawn amounts.

Investment Losses Reduce Your Room Permanently

If you invest $10,000 in your TFSA and the investment drops to $7,000, then you withdraw the $7,000 — only $7,000 is added back to your contribution room the next year, not the original $10,000. The $3,000 loss permanently reduces your available room. Be mindful of this when holding volatile investments.

Over-Contribution Penalty: 1% Per Month

The CRA charges a penalty tax of 1% per month on the highest excess TFSA amount in that month. For example, if you over-contribute by $5,000, you will owe $50 per month until the excess is removed. File Form RC243 to report and pay the penalty.

New Residents: Room Starts from Your Residency Year

If you immigrated to Canada or became a resident after 2009, your TFSA contribution room only starts accumulating from the year you obtained your Social Insurance Number (SIN) and became a Canadian resident. You do not get credit for years before your residency. Use the toggle above to calculate your room accurately.

Pro Tip: Check CRA My Account Regularly

Your most accurate contribution room is available through CRA My Account online. However, be aware that banks and financial institutions may take several weeks (or longer) to report your transactions to the CRA. After making contributions or withdrawals, give it time before relying on the CRA figure. Keep your own records as a backup.

Key terms to know

TFSA (Tax-Free Savings Account)Contribution RoomSuccessor HolderRRSP (Registered Retirement Savings Plan)

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Frequently Asked Questions

Last updated: July 2026

The annual TFSA contribution limit for both 2025 and 2026 is $7,000. If you were 18 or older in 2009 and have been a Canadian resident since then, your cumulative room is $102,000 as of 2025 and $109,000 as of 2026. Unused room carries forward indefinitely.

Your TFSA room is the sum of (1) every annual dollar limit since the later of 2009 and the year you became eligible (turned 18 AND became a Canadian resident with a valid SIN), (2) plus any withdrawals you made in prior years (re-added on January 1 of the year following the withdrawal), (3) minus all contributions you have made to date. The 2026 annual dollar limit is $7,000. Someone TFSA-eligible since 2009 with no contributions and no withdrawals has $109,000 of cumulative room at start of 2026. Withdrawn amounts are NOT added back in the same year; they only restore room on January 1 of the following year.

Reviewed by

Educational tool - estimates only. Not individualized financial, investment, tax, or legal advice. Using it does not create an advisor-client relationship. Rules and figures change; verify against current CRA sources and consult a qualified professional. Editorial policy →