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TFSA contribution room in 2026

The 2026 TFSA limit is $7,000 and total room since 2009 is $109,000. See the room for every birth year, how withdrawals and over-contributions work, and how to check your own number.

A guide, not advice.

This page explains general rules. Do your own research, confirm your numbers with the CRA (your My Account and Notice of Assessment are the official record) or the other official sources listed at the end, and talk to a qualified professional before acting.

ELI5 summary

A TFSA is a box for savings where the growth is never taxed. Every year since 2009 the government has added more space to the box, starting the year you turn 18. Space you do not use rolls over forever. Money you take out gets its space back on January 1 of next year, not right away.

A Tax-Free Savings Account lets you invest money you have already paid tax on and never pay tax on the growth, whether you earn interest, dividends or capital gains, and whether you take the money out next month or in forty years. The trade-off is a cap on how much you can put in, called contribution room.

The 2026 TFSA dollar limit is $7,000. Room is not a single yearly allowance, though. It builds up every January 1 from the year you turn 18 (or from 2009, when the account was introduced), and unused room carries forward forever. Anyone who was 18 or older in 2009 and has been a Canadian resident every year since has $109,000 of total room in 2026 if they have never contributed.

Find your birth year in the table below for your starting number, then adjust it with the calculator for what you have already put in and taken out.

TFSA room by birth year, 2026

Total room if you have never contributed and have been a Canadian resident every year since turning 18.

Born inTurned 18 inFirst year of roomYears of roomTotal room in 2026
1991 or earlier2009 or earlier200918$109,000
19922010201017$104,000
19932011201116$99,000
19942012201215$94,000
19952013201314$89,000
19962014201413$83,500
19972015201512$78,000
19982016201611$68,000
19992017201710$62,500
2000201820189$57,000
2001201920198$51,500
2002202020207$45,500
2003202120216$39,500
2004202220225$33,500
2005202320234$27,500
2006202420243$21,000
2007202520252$14,000
2008202620261$7,000

TFSA room calculator

Based on annual CRA TFSA limits. CRA My Account is the official record.

Estimated available room: $89,000
Eligibility starts in 2013. Assumes Canadian residency for every eligible year.

TFSA annual limits since 2009

Set by the federal government and published by the CRA.

YearAnnual limitCumulative since 2009
2009$5,000$5,000
2010$5,000$10,000
2011$5,000$15,000
2012$5,000$20,000
2013$5,500$25,500
2014$5,500$31,000
2015$10,000$41,000
2016$5,500$46,500
2017$5,500$52,000
2018$5,500$57,500
2019$6,000$63,500
2020$6,000$69,500
2021$6,000$75,500
2022$6,000$81,500
2023$6,500$88,000
2024$7,000$95,000
2025$7,000$102,000
2026$7,000$109,000

The limit is indexed to inflation and rounded to the nearest $500, which is why it moves in $500 steps and some years stay flat. The one exception is 2015, when the limit was raised to $10,000 by legislation before returning to $5,500 in 2016 and resuming indexation.

Why your real room may differ from the table

The table is the starting point. Your actual room on January 1 is that total, minus every contribution you have ever made, plus every withdrawal made before this year.

  • Contributions reduce room permanently for the year. Every deposit counts, even if you withdraw it the next day.
  • Withdrawals come back the following January 1. Take out $10,000 in 2026 and your room rises by $10,000 on January 1, 2027, not before.
  • Years as a non-resident add nothing. Room only accrues for years in which you were resident in Canada at some point. Contributions made while non-resident are taxed at 1% per month.
  • Direct transfers are neutral. Moving a TFSA between institutions by direct transfer is neither a withdrawal nor a contribution. Withdrawing and redepositing yourself is both.

Worked example

Priya was born in 1995, so her cumulative room for 2026 is $89,000. Over the years she has contributed $40,000 in total, and in 2025 she withdrew $8,000 for a car. Her room on January 1, 2026 is $89,000 − $40,000 + $8,000 = $57,000. Had she withdrawn the money in January 2026 instead, the $8,000 would not be available again until January 1, 2027.

Show the math

Room on January 1 of year Y = Σ annual limits for each year from max(2009, birth year + 18) to Y in which you were resident in Canada − Σ all contributions made before Y + Σ all withdrawals made before Y (excluding withdrawals that corrected an over-contribution or were qualifying transfers).

Room during year Y = room on January 1 − contributions made so far in Y. Withdrawals made in Y are not added back until January 1 of Y + 1.

Annual limit = the $5,000 base amount indexed to inflation since 2009, rounded to the nearest $500 (2015's $10,000 was a one-time legislated exception). 2026 limit: $7,000.

Over-contribution tax = 1% × the highest excess amount in each month the excess exists. Example: a $5,000 excess for 8 months = $5,000 × 1% × 8 = $400.

Priya's numbers: $89,000 (limits 2013–2026) − $40,000 + $8,000 = $57,000.

Growth, losses, interest and dividends inside the account never change room. Constants come from the CRA's published TFSA limits.

The over-contribution penalty

If your contributions exceed your room at any point, the CRA charges 1% of the highest excess amount in each month until you withdraw it or new room absorbs it. A $5,000 excess left in place for eight months costs $400. You must also file form RC243, the TFSA return, by June 30 of the following year. The most common cause is recontributing a withdrawal in the same calendar year. See how to fix an over-contribution for the steps and the waiver request.

What a TFSA can hold

A TFSA is a type of account, not a type of investment. It can hold cash, GICs, bonds, mutual funds, exchange-traded funds and shares listed on a designated stock exchange. Two cautions: dividends from U.S. shares have 15% U.S. tax withheld that a TFSA cannot recover, and frequent trading inside a TFSA can lead the CRA to treat the gains as taxable business income. Both are covered in qualified investments and foreign withholding tax.

TFSA or RRSP?

Both accounts shelter growth. The RRSP gives you a deduction now and taxes withdrawals later; the TFSA gives no deduction but never taxes withdrawals. The RRSP usually wins when your tax rate today is higher than it will be when you withdraw, and the TFSA wins when it is lower or when RRSP income would reduce benefits such as the Guaranteed Income Supplement. The decision framework works through real numbers, and RRSP savings by province shows what the deduction is worth where you live.

TFSA questions

What is the TFSA limit for 2026?

The 2026 TFSA dollar limit is $7,000. Someone who was 18 or older in 2009 and has lived in Canada every year since has accumulated $109,000 of total room, before subtracting contributions and adding back past withdrawals.

Does unused TFSA room expire?

No. Unused room carries forward indefinitely, so you can contribute several years of room at once. Room is only lost for years in which you were not a resident of Canada at any time.

When does a TFSA withdrawal come back as room?

On January 1 of the following year. Recontributing the same money in the same year uses new room, and without enough room the excess is taxed at 1% per month.

Where can I see my official TFSA room?

Log in to CRA My Account and open the TFSA section. It shows your room as of January 1 and the transactions financial institutions have reported. Institutions report the previous year's transactions by the end of February, so current-year activity may be missing; keep your own record of contributions and withdrawals.

Do investment gains or losses change my room?

No. Only contributions and withdrawals affect room. Growth inside the account never uses room, and a loss does not give room back, although withdrawing a grown balance adds the full amount withdrawn to next year's room.

I was born in 2009. When do I get TFSA room?

Room starts on January 1 of the year you turn 18, so someone born in 2009 receives their first year of room in 2027. In provinces where the age of majority is 19, you may have to wait until 19 to open an account, but the room from age 18 still accrues.

Where this information comes from

This page is based on publications from the CRA, last checked against them on . The full list is below, and the official source always takes precedence over anything written here.

It is a general guide, not financial, tax or legal advice. Do your own research, confirm your own numbers in CRA My Account or with the official source, and talk to a qualified professional before making a decision. Canadian Financials is independent and is not affiliated with or endorsed by the CRA or any government.

Spotted an error? Email [email protected] and it will be corrected and noted in the changelog.

Sources & references