TFSA Contribution Room Calculator
Calculate your total TFSA contribution room based on your age and previous contributions.
Your Information
Must have been 18+ and a Canadian resident to accumulate room
Total amount you've contributed since 2009 (check CRA My Account)
TFSA Key Facts
- • 2025 limit: $7,000
- • Room accumulates from age 18
- • Unused room carries forward
- • Withdrawals restore room next year
Enter your birth year to calculate your TFSA room
TFSA Annual Contribution Limits (2009-2025)
Understanding TFSA Contribution Room
The Tax-Free Savings Account (TFSA) is a powerful savings vehicle where investment growth and withdrawals are completely tax-free. Your contribution room accumulates each year starting from age 18 (or 2009, whichever is later).
How TFSA Room Works
- Annual accumulation: Each year, Canadian residents 18+ gain new contribution room
- Unused room carries forward: If you don't contribute, the room accumulates indefinitely
- Withdrawals restore room: Any amount you withdraw is added back to your room on January 1 of the following year
TFSA Over-Contribution Penalty
If you contribute more than your available room, you'll face a 1% penalty per month on the excess amount. Always check your room on CRA My Account before making contributions.
TFSA vs RRSP
Unlike RRSP, TFSA contributions aren't tax-deductible, but withdrawals are completely tax-free. TFSA withdrawals also don't affect government benefits like OAS or GIS, making it especially valuable in retirement.
Disclaimer: This calculator assumes Canadian residency for all years. Your actual room may differ if you weren't a resident for some years. Check CRA My Account for your official contribution room.
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