TFSA Contribution Room Calculator: 2026 Limit $7,000

Frequently asked questions

What is the TFSA limit for 2026?

$7,000, the same as 2024 and 2025. The limit is indexed to inflation and rounded to the nearest $500, so it rises in $500 steps every few years.

How much total TFSA room do I have if I have never contributed?

The lifetime total since the TFSA started in 2009 is $109,000, if you were 18 or older in 2009 and have been a Canadian resident the whole time. If you turned 18 later, add up the limits from that year on.

Do I need to open a TFSA for room to accumulate?

No. Room builds automatically every year from the year you turn 18, as long as you are a resident, whether or not you have an account or have filed a return.

When can I re-contribute money I withdrew?

Not until January 1 of the next year, when the amount you withdrew is added back to your room. Re-contributing in the same year, unless you still have unused room, is an over-contribution taxed at 1% per month. Taking out $5,000 in March and putting it back in June counts as a new $5,000 contribution.

I am 18 but my province says 19. Can I open a TFSA?

Not yet, in BC, New Brunswick, Newfoundland and Labrador, Nova Scotia, the Northwest Territories, Nunavut and Yukon, where you must be 19 to enter a contract. Your room still builds from the year you turn 18. You carry it into the account you open at 19.

I moved to Canada. When does my room start?

The year you became a resident for tax purposes, if you were already 18. Years before you arrived, and years you are a non-resident, do not add room.

Why is the CRA's TFSA room figure different from mine?

The CRA number is as of January 1 and only includes what financial institutions reported for the previous year. Anything you deposited or withdrew since then is not in it, and a late-reporting institution can make it wrong for months. Start from the CRA figure and add this year's activity yourself.

Does investment growth use up room?

No. Only contributions and withdrawals count. Gains, dividends and interest inside the account do not affect room, and losses do not restore it. If $7,000 grows to $10,000 you have used $7,000 of room, and withdrawing the $10,000 gives you $10,000 of room back the next year.

What happens if I over-contribute?

A tax of 1% per month on the highest excess amount for every month it stays in the account. Withdraw the excess as soon as you notice. The CRA will send a proposed assessment. You report and pay the tax on form RC243, the TFSA return. If it was an honest mistake you can ask the CRA to cancel the tax, through CRA My Account or form RC4288.