How much TFSA contribution room do you have?
Enter what CRA already knows about you. We mirror their exact math — annual limits since 2009, withdrawal restoration, and the 1%/month penalty on excess.
About you
Your TFSA history
All-time totalsThat's what you can put in today without going over. Your room grows again every January 1.
How TFSA contribution room works
- Room starts accumulating the year you turn 18 (and are a Canadian resident with a SIN), whether or not you have opened a TFSA. Every year's limit is added on January 1.
- The 2026 annual limit is $7,000. Someone who was 18 or older in 2009 and has never contributed has $109,000 of cumulative room as of 2026.
- Withdrawals are added back to your room, but only on January 1 of the following year. Taking money out and putting it back in the same year counts as a second contribution.
- Excess contributions are taxed at 1% per month on the highest excess amount for every month it stays in the account. CRA does not round to the day.
- Years spent as a non-resident of Canada do not add room, and contributions made while non-resident are taxed at 1% per month too.
- CRA's own figure in My Account is only as current as the last annual report from your bank, so early in the year it can lag your real activity by a full year of contributions.
Source rules: CRA: Tax-Free Savings Account
TFSA questions, answered
What is the TFSA contribution limit for 2026?
The TFSA annual limit for 2026 is $7,000. It is indexed to inflation and rounded to the nearest $500, so it stays flat for a few years and then steps up.
How much total TFSA room do I have if I have never contributed?
If you turned 18 in or before 2009 and have been a Canadian resident the whole time, your cumulative room as of 2026 is $109,000. If you turned 18 later, add up the annual limits from that year onward — the calculator does this for you from your birth year.
Do TFSA withdrawals give me my room back?
Yes, but not immediately. Any amount you withdraw is added back to your contribution room on January 1 of the next calendar year. Re-contributing in the same year uses new room, and if you have none left it is an over-contribution.
What is the penalty for over-contributing to a TFSA?
CRA charges a tax of 1% per month on the highest excess amount in the account for each month the excess remains. Withdrawing the excess stops the clock, but the months already accrued are still owed.
Why is the room CRA shows me different from this calculator?
Financial institutions report TFSA activity to CRA once a year, so the figure in My Account can be up to a year stale. This calculator uses what you enter today. If the two disagree, reconcile against your own contribution and withdrawal records.
Related calculators
Looniee tracks TFSA room across every account you hold, and recalculates it as you add contributions and withdrawals. Create a free account or try the live demo.
Informational only — verify your numbers at CRA My Account before contributing.