TFSA · Tax-Free Savings Account · Canada
TFSA Calculator (2026)
Work out your Tax-Free Savings Account contribution room from the year you became eligible, see when a withdrawal frees up new room, and check for over-contribution or non-resident tax. Every limit is read from the same versioned dataset our methodology cites, so you can audit it.
Last verified: Effective for 2026 tax year by Fiscal Moose
- 2026 dollar limit
- $7,000
- Cumulative room since 2009
- $109,000
- Program start
- 2009
Your details
Past contributions
Contribution and withdrawal months default to January (the worst-case for over-contribution penalties, which accrue 1% per month). Adjust each row’s month to match your records.
Past withdrawals
A withdrawal frees up new room, but only on January 1 of next year, never in the same year.
Planned future contributions optional
Add contributions you plan to make this year to see your remaining room after them. Leave blank if none.
Results
- Contribution room available this year (2026)
- $109,000.00
Your TFSA contribution limit for 2026, not the money in your account.
Default example assumes Ontario. Choose your province or territory above for your actual result.
- Total room built up to date
- $109,000Everything you could ever have contributed, added up
- Can open an account?
- Yes
This calculator estimates TFSA contribution room, not your current TFSA account value. Your account value depends on your investments and is shown by your financial institution.
This year’s TFSA dollar limit: $7,000.
How TFSA room actually works
Your TFSA contribution room starts accumulating in the year you turn 18, as long as you’re a Canadian resident, even if you don’t open an account until years later. Unused room carries forward indefinitely; there is no lifetime cap the way the FHSA has one. Someone who has been resident and 18 or older every year since the TFSA launched in 2009 has accumulated $109,000 of room by 2026.
The withdrawal trap most people miss
When you withdraw from a TFSA, that amount is added back to your contribution room, but not immediately. It comes back on January 1 of the following year. Re-contributing a withdrawal in the same calendar year, when you have no room left, is an over-contribution, and the CRA taxes it at 1% per month on the highest excess in each month, from the very first dollar, with no $2,000 grace amount like the RRSP has. The calculator models this timing exactly.
Two separate taxes that can stack
Over-contributing (ITA s.207.02) and contributing while a non-resident (ITA s.207.03) are different taxes. The first is 1% per month on the excess; the second is 1% per month on the full contribution amount, regardless of room. A non-resident who over-contributes can owe both at once. The calculator reports them as separate line items and never blends them into one figure.
Province matters for opening, not for room
In most provinces you can open a TFSA the year you turn 18. In British Columbia, New Brunswick, Newfoundland and Labrador, Nova Scotia, and the three territories, the age of majority is 19, so you can’t open one until then, but your room still accrues from 18 and carries forward. Choose your province in the calculator so it applies the right rule.
TFSA dollar limit by year
The annual limit is $5,000 (2009) indexed to inflation and rounded to the nearest $500 under Income Tax Act s.207.01(1), which is why it steps in $500 and $1,000 increments rather than rising smoothly. This is the table the calculator sums to compute your cumulative room.
| Year | Dollar limit |
|---|---|
| 2009 | $5,000 |
| 2010 | $5,000 |
| 2011 | $5,000 |
| 2012 | $5,000 |
| 2013 | $5,500 |
| 2014 | $5,500 |
| 2015 | $10,000 |
| 2016 | $5,500 |
| 2017 | $5,500 |
| 2018 | $5,500 |
| 2019 | $6,000 |
| 2020 | $6,000 |
| 2021 | $6,000 |
| 2022 | $6,000 |
| 2023 | $6,500 |
| 2024 | $7,000 |
| 2025 | $7,000 |
| 2026 | $7,000 |
| Cumulative (resident & 18+ since 2009) | $109,000 |
Sources and methodology
Sources
Known limitations
- These limits apply to the 2026 tax year. The per-year table covers 2009–2026; future years load year-specific data as CRA publishes them.
- The calculator assumes you are eligible (have a valid SIN and meet residency/age rules). It does not validate eligibility.
- Residency is modelled at the calendar-year level. It does NOT model becoming a resident again part-way through a year, or designated-distribution offsets that can end the non-resident tax early. Consult CRA for a mid-year status change.
- The calculator assumes you have been CONTINUOUSLY resident since the "resident since" year you enter. If you emigrated and later returned (a gap in residency), your room may be lower than shown, because contribution room does not accrue for years you were a non-resident.
- This calculator reports contribution room, not an account-value forecast. It does not estimate how a balance grows over time; for that, use a dedicated investment-growth tool.
- There is no RRSP-to-TFSA reverse transfer in Canadian tax law; the calculator does not offer one. TFSA and RRSP contribution room are entirely separate; do not conflate them.
- Successor-holder and estate rollover rules (a spouse becoming the account holder on death) are out of scope for this calculator.