How this calculator works
The TFSA started in 2009, and room begins in the year you turn 18 or 2009, whichever is later. This page adds the official annual dollar limit for every year from that first year to 2026 and subtracts the contributions you have already made. The limits are $5,000 for 2009 to 2012, $5,500 for 2013 and 2014, $10,000 for 2015, $5,500 for 2016 to 2018, $6,000 for 2019 to 2022, $6,500 for 2023 and $7,000 for 2024 to 2026, which comes to $109,000 for someone eligible in every year. The result is an estimate of room, not your CRA figure. Withdrawals are not added back here even though a withdrawal restores room on January 1 of the following year, and no over-contribution penalty is calculated. If you were a non-resident for part of a year, your room can differ. Your exact room is in CRA My Account.
Formula
First year = max(2009, the year you turned 18). Room accrued = the sum of the TFSA dollar limit for every year from the first year to 2026. Room available = max(0, room accrued - contributions to date).
Worked example
Someone who turned 18 in 2015 has room for 2015 to 2026: $10,000 for 2015, $16,500 for 2016 to 2018, $24,000 for 2019 to 2022, $6,500 for 2023 and $21,000 for 2024 to 2026, which is $78,000. Having contributed $30,000 leaves $48,000 available. Someone eligible in every year since 2009 has $109,000 of room.
Frequently asked questions
Where does the starting year come from?
Room begins in the calendar year you turn 18, and never before 2009. A birthday late in the year does not reduce that year's limit.
Do withdrawals give the room back?
Yes, on January 1 of the following year. This page does not add them back, so after a large withdrawal your real room can be higher than the figure shown.
What if I contributed more than my room?
The excess is taxed at 1% a month until it is removed. This page only floors the available room at zero and does not calculate the penalty.
Is the limit the same every year?
No. It is indexed to inflation and rounded to the nearest $500, so it has changed several times since 2009. The table shows the limit for each year used.