TFSA Calculator Canada 2026
Calculate your TFSA contribution room. Enter the year you turned 18 (or first year as resident), current year, and total contributions to date.
Available contribution room
$109,000
Cumulative room from 2009–2026: $109,000. Total contributed: $0.
Current year limit (2026)
$7,000
Cumulative room (to date)
$109,000
What is a TFSA and how does contribution room work?
A TFSA (Tax-Free Savings Account) is a Canadian registered account where contributions are not tax-deductible, but investment growth and withdrawals are tax-free. You can only contribute up to your contribution room. Room accumulates each year you are at least 18 years old and a Canadian resident, starting from 2009 when TFSAs began. Each year the federal government sets an annual limit (e.g. $7,000 for 2024, 2025, and 2026); that amount is added to your room on January 1. Unused room carries forward indefinitely. Withdrawals don’t create a permanent loss of room—the amount you withdraw is added back to your room on January 1 of the following year. Use the calculator above to enter the year you turned 18 (or first year as resident), current year, and total contributions to date to see your available TFSA room. For RRSP tax savings, use our RRSP Calculator Canada; for take-home pay, use our Canada Tax Calculator.
TFSA contribution limits by year (2009–2026)
TFSA annual limits have varied: $5,000 (2009–2012), $5,500 (2013–2014), $10,000 (2015), $5,500 (2016–2018), $6,000 (2019–2022), $6,500 (2023), and $7,000 (2024–2026). Limits are indexed to inflation and rounded to the nearest $500. If you were eligible every year since 2009 and never contributed, your cumulative room as of 2026 is $109,000. Our TFSA calculator Canada uses these official limits so you can see your cumulative room and how much you can still contribute. Your exact room is also on your CRA My Account or Notice of Assessment—use this calculator to double-check or plan ahead. For CPP and EI deductions, see our CPP & EI Calculator Canada.
Over-contributing to your TFSA: penalty and how to fix it
If you contribute more than your TFSA contribution room, you have over-contributed. The CRA charges a penalty of 1% per month on the excess amount until you withdraw it or new room becomes available (e.g. next January). To avoid the penalty, withdraw the over-contribution as soon as you realize the mistake. The calculator above shows your available room; if you enter total contributions that exceed your cumulative room, the result will be negative—that’s a signal to check your records and possibly withdraw the excess. For salary and tax planning, use our Net to Gross Calculator Canada or Canada Tax Calculator.
When to use a TFSA contribution room calculator
Use a TFSA calculator when you want to know how much you can contribute without over-contributing—before making a lump sum, when you’ve lost track of past contributions, or when you’ve just become eligible (e.g. turned 18 or became a resident). It’s also useful to verify the room shown on your CRA account or to plan contributions for the year. Remember: the calculator uses the year you turned 18 (or first year as a Canadian resident) to determine when your room started. For tax-deferred retirement savings, use our RRSP Calculator Canada to see tax savings from RRSP contributions.