TFSA Contribution Room Calculator
Your TFSA contribution room for 2026 from your birth year or the year you turned 18: every CRA annual limit from 2009 ($109,000 in total by 2026), adjusted for newcomer and non-resident years, minus contributions and plus earlier withdrawals. Also shows the over-contribution penalty, next January’s room and a year-by-year projection.
How it works
room = Σ annual limits for each year from the later of 2009, the year you turned 18 and the year you became a resident (skipping years fully abroad) − all contributions + withdrawals made in earlier years annual limits: $5,000 (2009–2012), $5,500 (2013–2014), $10,000 (2015), $5,500 (2016–2018), $6,000 (2019–2022), $6,500 (2023), $7,000 (2024–2026) · total since 2009: $109,000 over-contribution tax = 1% × excess × months
Tax-Free Savings Account room builds up every calendar year from the year you turn 18, whether or not you have opened an account, and unused room never expires. Anyone who was 18 or older and a Canadian resident in 2009, the year TFSAs began, has $109,000 of total room in 2026. The annual limit is indexed to inflation in $500 steps: $7,000 for 2024, 2025 and 2026. Newcomers start accruing room in the year they become a resident, and a year spent entirely as a non-resident adds nothing, so the calculator lets you enter both. From that total it subtracts every contribution you have made, including this year’s, and adds back withdrawals from earlier years. Withdrawals made this year return as room only on January 1 of next year, together with the new annual limit. Putting money back in the same year is the most common way people over-contribute. Any excess is taxed at 1% a month until it is withdrawn, and there is no grace amount. Investment growth and losses don’t change your room. The CRA’s figure in My Account is updated only after financial institutions report early in the year, so keep your own record of this year’s transactions. Switch on the projection to see your room and balance grow year by year.
Worked example
Someone who turned 18 in 2009 or earlier has $109,000 of cumulative room in 2026. With $40,000 contributed and $5,000 withdrawn before 2026, $74,000 is available now (109,000 − 40,000 + 5,000), and at least $7,000 more arrives on January 1, 2027. Born in 2000, room starts in 2018: $5,500 + 4 × $6,000 + $6,500 + 3 × $7,000 = $57,000. A newcomer who arrived in 2020 has $45,500. Contributing $120,000 against $109,000 of room would leave an $11,000 excess, taxed at $110 for every month it stays in the account.
Sources: CRA — Calculate your TFSA contribution room · CRA — How non-residency affects your TFSA · CRA — MP, DB, RRSP, DPSP, ALDA, TFSA limits, YMPE and the YAMPE
Frequently asked questions
What is the TFSA limit for 2026?
The annual limit for 2026 is $7,000, the same as in 2024 and 2025. If you were 18 or older and a resident of Canada in 2009 and have never contributed, your total room in 2026 is $109,000.
Does room accrue while I live abroad?
Not for a year you spend entirely as a non-resident. The year you leave and the year you return count in full. Contributions made while you are a non-resident are taxed at 1% a month, though you can keep an existing TFSA and withdraw from it.
I live in a province where the age of majority is 19. When does my room start?
Room still starts in the year you turn 18. In British Columbia, New Brunswick, Newfoundland and Labrador, Nova Scotia and the territories you can only open the account at 19, but the room from the year you turned 18 carries forward.
When do withdrawals come back as room?
On January 1 of the following year. If you withdraw $10,000 in March and put it back in June, the June deposit uses current room. If you have no room left, it is an over-contribution.
Is TFSA growth counted as a contribution?
No — only what you deposit. If your TFSA doubles, you have used no more room. Withdrawing that growth adds the whole withdrawal back the next year, so growth effectively increases your future room.
What happens if I over-contribute?
The CRA charges 1% of the highest excess amount in each month it stays in your TFSA, and you must file Form RC243. Withdraw the excess right away. If it was a reasonable error that you fixed quickly, you can ask the CRA to waive the tax.
Related calculators
Uses the CRA’s TFSA annual limits for 2009–2026. Your CRA My Account figure is the authoritative one once it reflects this year’s transactions. Educational estimate, not tax advice — confirm with the CRA or a tax professional.