Question 1

How do I calculate my TFSA contribution room?

Accepted Answer

To calculate your TFSA contribution room: 1) Determine the year you turned 18, 2) Determine the year you became a Canadian resident (if not born in Canada), 3) Start from whichever year is later: 2009, the year you turned 18, or the year you became a resident, 4) Add up the annual TFSA limits for each year from your start year to the current year. For example, if you turned 18 in 2015 and have been a Canadian resident since birth, you would add: 2015 ($10,000) + 2016 ($5,500) + ... + 2026 ($7,000). This calculator does the math for you automatically.

Question 2

What is the TFSA limit for 2026?

Accepted Answer

The TFSA contribution limit for 2026 is $7,000. This is the amount of new contribution room you earn for 2026 if you are 18 or older and a Canadian resident. Your total available room depends on when you became eligible and whether you have unused contribution room from previous years.

Question 3

Does unused TFSA room carry forward?

Accepted Answer

Yes, unused TFSA contribution room carries forward indefinitely. If you did not contribute in previous years, that room accumulates and remains available. For example, if you turned 18 in 2009 but never opened a TFSA, you would have the full cumulative limit available ($109,000 as of 2026). There is no deadline to use your TFSA room.

Question 4

How do TFSA withdrawals affect contribution room?

Accepted Answer

When you withdraw money from your TFSA, that amount is added back to your contribution room on January 1st of the following year. For example, if you withdraw $5,000 in November 2026, you will get that $5,000 added to your contribution room on January 1, 2027, plus the new annual limit for 2027. You cannot re-contribute the same amount in the same calendar year without risking over-contribution penalties.

Question 5

What happens if you are not a Canadian resident for a year?

Accepted Answer

You do not accumulate TFSA contribution room for any year you are not a Canadian resident. Your contribution room only grows for years when you are both 18+ and a Canadian resident. If you become a non-resident, you can keep your existing TFSA but will not earn new contribution room. When you become a resident again, you will start accumulating room from that year forward.

Question 6

What is the maximum TFSA contribution room in 2026?

Accepted Answer

The maximum possible TFSA contribution room in 2026 is $109,000, but only if you: 1) Were 18 or older in 2009 when the TFSA was introduced, 2) Have been a Canadian resident every year since 2009, 3) Have never made any TFSA contributions. Most people will have less than this maximum because they either became eligible after 2009 or have already made contributions.

TFSA Contribution Room Calculator

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Your Total TFSA Room

Year-by-Year Breakdown

Track Your TFSA Contributions

How TFSA Contribution Room Works

2026 TFSA Limits

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