TFSA Contribution Room Calculator
"Know exactly how much tax-free room you have."
You must be 18 or older to be eligible for TFSA
Optional: TFSA eligibility starts from immigration year
Optional: Rough estimate of how much you've already contributed
What is TFSA contribution room?
TFSA contribution room is the total amount you can contribute to your Tax-Free Savings Account. It accumulates each year starting from the year you turned 18, based on annual limits set by the CRA.
How do I check my exact TFSA contribution room?
You can check your exact TFSA contribution room through your CRA My Account portal. This calculator provides an estimate based on standard limits, but your actual room depends on your contribution and withdrawal history.
What happens if I over-contribute to my TFSA?
Over-contributing to your TFSA results in a 1% per month penalty tax on the excess amount. Contact the CRA immediately if you suspect you've over-contributed to avoid penalties.
The TFSA is Canada's most flexible savings account: contributions grow tax-free, withdrawals are tax-free, and unused room carries forward forever. Your contribution room accumulates every year starting from the year you turned 18, regardless of whether you opened an account. This calculator helps you understand your total available room based on your age and immigration status.
How TFSA Contribution Room Works
- Annual contribution room accumulates from age 18
- Unused room carries forward indefinitely
- Withdrawals add back to your room the following year
- Immigration year determines your starting point if you moved to Canada as an adult
Historical TFSA Contribution Limits
The CRA sets annual TFSA contribution limits that have varied since the program's inception in 2009. Most years have been $6,000–$7,000, with a brief $10,000 limit in 2015. This calculator uses official CRA historical limits to calculate your total room.
Why Your Actual Room May Differ
While this calculator provides an accurate estimate based on standard limits, your actual TFSA contribution room depends on your individual transaction history. Contributions reduce your room, withdrawals add back to your room in the following year, and any investment gains or losses don't affect your contribution room. Always verify your exact room through your CRA My Account before making large contributions.