TFSA Contribution Room Calculator
Determine how much you can contribute to your Tax-Free Savings Account. Enter your birth year and the total amount you've already contributed to see your lifetime contribution room, remaining balance, and year-by-year breakdown of TFSA limits.
Calculate Your TFSA Room
Enter your birth year and the total amount you've contributed to your TFSA to see how much contribution room you have remaining.
Official sources
Limitations
- Assumes you were a Canadian resident with a valid SIN every year since turning 18; non-resident years do not earn room.
- Withdrawals and prior contributions are only reflected if you enter them.
Results are estimates for general information and are not legal, tax, payroll or financial advice. Employment contracts, collective agreements and individual circumstances can change what you are owed.
Frequently Asked Questions
What is TFSA contribution room?
TFSA contribution room is the total amount of money you are allowed to contribute to your Tax-Free Savings Account. The government sets annual limits that increase over time based on inflation. Unused room carries forward to the next year, so you can catch up with previous years' limits.
When do I become eligible to open a TFSA?
You become eligible to open and contribute to a TFSA on January 1st of the year you turn 18 years old. However, if you turned 18 before 2009, your eligibility starts on January 1st, 2009 (when TFSAs were first introduced in Canada).
What are the annual TFSA contribution limits?
TFSA limits vary by year and are indexed to inflation. Key limits: 2009–2012 ($5,000), 2013–2014 ($5,500), 2015 ($10,000), 2016–2018 ($5,500), 2019–2022 ($6,000), 2023 ($6,500), and 2024–2025 ($7,000). These limits are set by the Canada Revenue Agency and can change as inflation adjustments are made.
Can I exceed my contribution room?
No. Contributing more than your available room results in an excess contribution. The CRA charges a 1% monthly penalty tax on excess amounts in your account, so it's important to track your remaining room carefully.
Does withdrawing money from my TFSA restore my contribution room?
Yes. When you withdraw money from your TFSA, the amount withdrawn is added back to your contribution room on January 1st of the following calendar year. This allows you to re-contribute that money (or new money up to your limit) in future years.