TFSA Contribution Room
How TFSA room is calculated, with every annual limit since 2009.
The short version
- Your TFSA room = all annual limits since you turned 18 (from 2009 on) + unused room + last year's withdrawals.
- The 2026 annual limit is $7,000. Total room for someone eligible since 2009 who has never contributed: $109,000.
- Withdrawals come back on January 1 of the following year, not the day you take them out. That's the trap.
- CRA My Account shows your room as of January 1, but it may not include this year's transactions yet. Keep your own tally.
- You need a valid SIN, to be 18 or older, and to be resident in Canada to earn room.
TFSA Contribution Room Explained
TFSA room is a bucket that fills up by $7,000 every January, and refills by whatever you took out last year. Simple enough. The trouble is that the refill happens on January 1, not the day you withdraw, and people who move money out and back in within the same year find out the hard way.
The Annual Limits
| Years | Annual limit | Running total |
|---|---|---|
| 2009 to 2012 | $5,000 | $20,000 |
| 2013 to 2014 | $5,500 | $31,000 |
| 2015 | $10,000 | $41,000 |
| 2016 to 2018 | $5,500 | $57,500 |
| 2019 to 2022 | $6,000 | $81,500 |
| 2023 | $6,500 | $88,000 |
| 2024 to 2026 | $7,000 | $109,000 |
Room starts the year you turn 18 (and are resident with a SIN), so someone born in 2000 started in 2018. Years you were a non-resident don't add room.
How Your Room Is Calculated
| Example for 2026 | Amount |
|---|---|
| Unused room at the end of 2025 | $12,000 |
| Plus the 2026 limit | + $7,000 |
| Plus withdrawals made in 2025 | + $5,000 |
| Room on January 1, 2026 | $24,000 |
| Minus contributions in 2026 | – $20,000 |
| Room left for 2026 | $4,000 |
Withdraw $10,000 in June 2026 and put it back in September, and you're $6,000 over, because the $10,000 doesn't come back as room until January 1, 2027. That's the most common way people get a letter from CRA. See TFSA overcontribution.
Things That Don't Affect Room
- Investment growth or losses inside the account. A TFSA that doubled doesn't use more room; one that lost half doesn't give room back.
- Direct transfers between your own TFSAs at different institutions (do it as a transfer, not a withdrawal and deposit).
How much TFSA room do you have right now?
Tell the assistant the room CRA shows for January 1 and your deposits and withdrawals this year. It works out what you can still put in without going over.
Where to Check Your Room
CRA My Account shows your room as of January 1 (TFSA income itself is non-taxable and never appears on your return), based on what financial institutions reported. Institutions report after year end, so this year's contributions may not show yet. If you've contributed this year, subtract it yourself. Check the transaction summary in My Account to see what CRA has on record.
TFSA or Something Else?
A TFSA is usually the right first account for lower incomes and for savings you may need any time, because an RRSP deduction is only worth your marginal tax rate (the RRSP tax savings calculator shows what that is for you). For higher incomes, an RRSP deduction may be worth more, and first-time buyers should look at the FHSA. The overview is on TFSA tax rules.
Three Rules of Thumb
- Never re-contribute a withdrawal in the same year unless you know you have spare room.
- Move TFSAs by direct transfer, not withdrawal and deposit.
- Keep your own running tally; CRA's number lags.
TFSA Room Questions
How much TFSA room do I have in 2026?
If you were 18 or older and resident in Canada in 2009 and have never contributed, $109,000. Otherwise add the annual limits from the year you turned 18, plus withdrawals from previous years, minus contributions.
When does a TFSA withdrawal get added back to my room?
On January 1 of the following year. Re-contributing in the same year uses new room.
Is the TFSA room in My Account accurate?
It shows room as of January 1 based on reports from financial institutions. It may not include contributions or withdrawals made this year.
Do investment losses in a TFSA give me room back?
No. Room depends on contributions and withdrawals, not on investment gains or losses.
Sources: CRA, Tax-free savings account (TFSA); TFSA annual limits. Running totals calculated by us. Checked October 2026.
Last reviewed October 5, 2026 against CRA and Government of Canada sources. How we check our facts.