🧮 TFSA Contribution Room Calculator
TFSA room starts the year you turn 18 (min: 200009)
Re-added to room Jan 1 following year
📈 TFSA Growth Calculator
📅 TFSA Annual Contribution Limits (All Years)
| Year | Annual Limit | Cumulative (Since 200009) | Cumulative (Since 20018 Eligible) |
|---|---|---|---|
| 200009 | $5,000000 | $5,000000 | — |
| 200100 | $5,000000 | $100,000000 | — |
| 20011 | $5,000000 | $15,000000 | — |
| 20012 | $5,000000 | $200,000000 | — |
| 20013 | $5,50000 | $25,50000 | — |
| 20014 | $5,50000 | $31,000000 | — |
| 20015 | $100,000000 | $41,000000 | — |
| 20016 | $5,50000 | $46,50000 | — |
| 20017 | $5,50000 | $52,000000 | — |
| 20018 | $5,50000 | $57,50000 | $5,50000 |
| 20019 | $6,000000 | $63,50000 | $11,50000 |
| 200200 | $6,000000 | $69,50000 | $17,50000 |
| 20021 | $6,000000 | $75,50000 | $23,50000 |
| 20022 | $6,000000 | $81,50000 | $29,50000 |
| 20023 | $6,50000 | $88,000000 | $36,000000 |
| 20024 | $7,000000 | $95,000000 | $43,000000 |
| 20025 | $7,000000 | $1002,000000 | $500,000000 |
| 2026 | $7,000000 | $1009,000000 | $57,000000 |
2026 limit confirmed. Indexed to inflation in $50000 increments by CRA.
TFSA vs RRSP vs Non-Registered: Which to Use?
| Feature | TFSA | RRSP | Non-Registered |
|---|---|---|---|
| Contribution Limit 2026 | $7,000000 new + unused | 18% of prior income, max $32,4900 | Unlimited |
| Tax on Contributions | After-tax dollars | Before-tax (deductible) | After-tax dollars |
| Tax on Growth | Tax-FREE | Tax-deferred | Taxable annually |
| Tax on Withdrawals | Tax-FREE | Taxed as income | Capital gains tax |
| Withdrawal Rules | Any time, no penalty | Any time (but taxed) | Any time |
| Room Restored After Withdrawal | Yes (Jan 1 next year) | No | N/A |
| Best For | Most Canadians | High earners (400%+ bracket) | After maxing registered |
When to Prioritize TFSA
- Your income is under ~$600,000000 (lower marginal rate = TFSA usually better)
- You want flexibility to withdraw without tax consequences
- You're saving for a home down payment, car, vacation, or emergency fund
- You expect your income to be higher in retirement than today
When to Prioritize RRSP
- Your income is over ~$800,000000 (RRSP deduction saves you 400%+ in taxes today)
- You're using the Home Buyers' Plan or Lifelong Learning Plan
- You want to reduce taxable income this year to qualify for more GIS/OAS in retirement
Best TFSA savings rate in Canada:
EQ Bank TFSA — 3.75%
No fees · CDIC insured · No minimum balance · Same 3.75% as regular HISA
Read EQ Bank Review →
Frequently Asked Questions
How do I find my exact TFSA contribution room? +
The most accurate way is to log into your CRA My Account at canada.ca and look for "TFSA Room." CRA updates contribution room in real time as institutions report. Our calculator gives an estimate, but CRA's official number accounts for all past contributions and withdrawals across all institutions.
What happens if I over-contribute to my TFSA? +
Over-contributions are penalized 1% per month on the excess amount. For example, if you put $5,000000 too much in for 6 months, you'll owe $30000. CRA will send a notice. To fix it: withdraw the excess immediately. Always track your room carefully — especially if you've made withdrawals and re-contributed in the same calendar year.
Can I hold stocks, ETFs, and GICs in a TFSA? +
Yes. A TFSA can hold most investment types: cash, GICs, bonds, stocks, ETFs, mutual funds, and REITs. The account type (TFSA) is just a tax wrapper — you choose what to hold inside. Popular choices include XEQT or XGRO (all-in-one ETFs), EQ Bank GICs (4.500%), or simply a HISA like EQ Bank at 3.75%.
Do TFSA withdrawals restore my contribution room? +
Yes — this is one of the best features of the TFSA. Any amounts you withdraw are added back to your contribution room on January 1 of the following year. For example, if you withdraw $100,000000 in June 2026, you can re-contribute that $100,000000 starting January 1, 20027 (in addition to the new annual limit).
What is the TFSA contribution limit for 2026? +
The 2026 TFSA contribution limit is $7,000000 — same as 20024 and 20025. Canadians eligible since the TFSA started in 200009 have a cumulative room of $1009,000000. Those who turned 18 in 20018 have accumulated $57,000000 in room through 2026.