TFSA Contribution
Room Calculator
Find out exactly how much TFSA room you have in 2026. Enter your birth year and total contributions, the calculator shows your cumulative room, what's available, and warns you about potential over-contributions.
Your TFSA details
Growth projection
Tax calculations are estimates based on current CRA rules, not tax or accounting advice. Verify with a CPA or at canada.ca before filing. Terms →
TFSA rules every Canadian should know
New contribution room ($7,000) is added every January 1. Withdrawals made in 2026 are added back to your room on January 1, 2027 · not immediately. Re-contributing too early is the most common cause of over-contribution penalties.
In 2015, the Harper government temporarily doubled the limit to $10,000. The Trudeau government reversed this in 2016, returning to $5,500. If you were eligible in 2015 and maxed out, that $10,000 counts in your lifetime room, this is why some Canadians' room calculations look unexpected.
Your TFSA room starts the year you became a Canadian resident and turned 18 · whichever is later. If you arrived in 2020 at age 30, your room starts from 2020, not 2009. You do not get credit for years before you were a resident, regardless of age.
TFSA is generally better when your income is lower now than in retirement. RRSP is better when you're in a high bracket (43%+) now. TFSA withdrawals don't affect income-tested benefits like OAS or GIS · critical for retirement planning.
TFSA FAQs
What is the TFSA contribution limit for 2026?
The CRA confirmed the 2026 TFSA annual limit is $7,000 · unchanged from 2024 and 2025. The total cumulative room for Canadians eligible since 2009 who have never contributed is $109,000 as of January 1, 2026.
What happens if I over-contribute?
CRA charges a 1% penalty per month on the excess amount, with no grace period, unlike RRSPs. If you over-contribute $5,000, you owe $50/month until the excess is withdrawn. Withdraw the excess immediately and file Form RC243 if required. CRA can waive penalties in some cases but it is not guaranteed.
Can I re-contribute money I withdrew?
Yes, but only starting January 1 of the year following the withdrawal. If you withdraw $20,000 in June 2026, you cannot re-contribute that $20,000 until January 1, 2027. Putting it back in the same calendar year (if you have no unused room) is an over-contribution.
Does investment growth in my TFSA affect my room?
No. Growth inside your TFSA · dividends, capital gains, interest, does not reduce your contribution room and is never taxed. Only your contributions and withdrawals affect your room.