Find out how much you can put into your Tax-Free Savings Account in 2026, based on when you became eligible, what you have contributed and what you have withdrawn.
Check your exact room in CRA My Account; financial institutions report contributions with a delay.
This is an estimate based on published rates, not tax or financial advice. Your payslip or assessment may differ. We are an independent site, not affiliated with any government agency.
TFSA annual limits since 2009
Years
Annual limit
2009 – 2012
$5,000
2013 – 2014
$5,500
2015
$10,000
2016 – 2018
$5,500
2019 – 2022
$6,000
2023
$6,500
2024 – 2026
$7,000
How your room is calculated
Room = sum of annual limits since you became eligible − total contributions + withdrawals made in earlier years.
You become eligible in the later of 2009, the year you turn 18 and the year you become resident in Canada. Investment growth inside the account does not use room, and neither do losses restore it.
Worked example: someone who turned 18 in 2020
Born 2002, contributed $20,000 so far
They have accumulated $6,000 × 3 (2020–2022) + $6,500 (2023) + $7,000 × 3 (2024–2026) = $45,500. After $20,000 of contributions, room in 2026 is $25,500.
Contribution room in 2026$25,500
Total limits since eligible
$45,500
2026 annual limit
$7,000
Eligible since
2020
Tips
Check CRA My Account, but remember it reflects contributions reported by your bank, which can lag by months.
Transfer between institutions directly; withdrawing and re-depositing in the same year uses room.
Hold growth investments in a TFSA: gains and withdrawals are tax-free and don’t affect income-tested benefits like OAS or GIS.
US dividends are subject to 15% US withholding tax inside a TFSA, which cannot be recovered.
Questions people ask
What is the TFSA limit for 2026?
$7,000. If you were 18 or older and resident in Canada in 2009 and have never contributed, your total room in 2026 is $109,000.
When does withdrawn money become room again?
On 1 January of the following year. Recontributing in the same year can create an over-contribution unless you have other unused room.
What is the penalty for over-contributing?
1% per month on the highest excess amount in each month, until it is withdrawn or new room absorbs it.
Do I earn TFSA room if I am not a resident?
No. Room accrues only for years in which you are 18 or older and resident in Canada for at least part of the year.
This is an estimate based on published rates, not tax or financial advice. Your payslip or assessment may differ. We are an independent site, not affiliated with any government agency. Read the full disclaimer.
