How to use the TFSA Contribution Room Calculator
- 1 Enter the year you turned 18, or 2009 if you were 18 or older then.
- 2 Enter the total you have contributed since then.
- 3 Enter withdrawals made before 2026, which are added back.
- 4 Read your 2026 contribution room. A negative figure means an over-contribution.
Worked example
Eligible since 2009, contributed $40,000 and withdrew $5,000 before 2026. The annual limits from 2009 to 2026 add up to $109,000. Room for 2026 is $109,000 − $40,000 + $5,000 = $74,000. Someone who turned 18 in 2020 has $45,500 of limits, from $6,000 a year in 2020 to $7,000 in 2026.
Features
Every annual limit
All CRA limits from $5,000 in 2009 to $7,000 in 2026, including the $10,000 year in 2015.
Withdrawals added back
Money taken out is added back to your room the following January.
Over-contribution warning
A negative result flags the 1% a month penalty on excess contributions.
When to use it
Before contributing
Check your room before a large deposit to avoid penalties.
Newcomers and young adults
See room built since you turned 18 or became resident.
After a withdrawal
Plan when you can put money back.
Comparing with My Account
Check the CRA figure, which can be out of date early in the year.
Frequently asked questions
What is the TFSA limit for 2026?
$7,000, the same as in 2024 and 2025.
What is the total room if eligible since 2009?
$109,000 in 2026 for someone who was 18 or older and resident in 2009 and has never contributed.
When are withdrawals added back?
On 1 January of the following year, not immediately. Re-contributing in the same year can cause an over-contribution.
What is the penalty for over-contributing?
1% a month on the highest excess amount in each month until it is removed.
Do I build room if I am not resident?
No. You build room only for years you are 18 or older and resident in Canada with a valid SIN.
Where can I see my official room?
In CRA My Account, though it may not include the current year's transactions.
Do investment gains use up room?
No. Growth, interest and dividends inside a TFSA do not reduce your room, and withdrawing them adds that amount back to your room the next year.
Can I give money to my spouse for their TFSA?
Yes. You can give money to a spouse or common-law partner to contribute to their own TFSA without the income being attributed back to you.
Does unused room carry forward?
Yes. Unused room carries forward indefinitely, so you can catch up in any later year.
Is a TFSA only for cash savings?
No. Despite the name, a TFSA can hold cash, GICs, bonds, stocks, ETFs and mutual funds, and all the growth inside it can be withdrawn tax-free at any time.
Results are estimates based on the official rates linked above. Confirm important figures with the issuing authority or a qualified adviser before you act on them.
Reviewed by ToolsUnlocked Team · Last updated