TFSA Room Calculator
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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.
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.