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TFSA Contribution Room Calculator

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Enter your birth year, lifetime TFSA contributions, and last year's withdrawals to calculate your available 2026 TFSA room.

TFSA Contribution Room Calculator

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Available 2026 TFSA room
$47,000
Cumulative limit (since eligible)
$89,000
Assumes Canadian residency every year since turning 18 (or since 2009, whichever is later). Withdrawals only restore room the following January 1 - a 2026 withdrawal doesn't add back room until 2027. Confirm your exact figure on CRA My Account.

The formula

Cumulative limit = sum of annual TFSA limits from the year you turned 18 (or 2009, whichever is later) through 2026 Available room = Cumulative limit - Total lifetime contributions + Withdrawals made in the prior calendar year
Example

Born 1995 (turned 18 in 2013): cumulative limit of CAD 89,000. Having contributed CAD 50,000 total and withdrawn CAD 8,000 in 2025 (restored to room on January 1, 2026): available 2026 room = 89,000 - 50,000 + 8,000 = CAD 47,000.

Step-by-step guide

  1. Enter your birth year - your room starts accumulating the year you turn 18, or 2009 (when TFSAs launched), whichever is later.
  2. Enter your total lifetime TFSA contributions across all accounts combined - room applies to the sum of every TFSA you hold, not per account.
  3. Enter any withdrawals made in the prior calendar year - withdrawals restore room, but only starting the following January 1, never immediately.

Why a withdrawal doesn't restore room until next year

This is the single most common source of TFSA over-contribution penalties. If you withdraw CAD 15,000 from your TFSA in June 2026, that amount does NOT become available room again until January 1, 2027 - not immediately, and not later that same year. Someone who withdraws money mid-year and re-deposits it a few months later, assuming the room "came back" right away, can trigger an over-contribution penalty of 1% per month on the excess amount, even though they never exceeded their true lifetime contribution total. The room genuinely comes back - just not until the calendar flips.

Common mistakes

Re-contributing a withdrawn amount in the same calendar year without other available room - this is the most common cause of TFSA over-contribution penalties.
Withdrawing from one institution and depositing to another yourself instead of using a direct transfer - the CRA treats this as a withdrawal plus a new contribution, which can trigger an over-contribution even though you didn't add any new money overall.

Frequently asked questions

Do I need to file taxes or open a TFSA to start accumulating room?

No - room accumulates automatically every year you're 18+ and a Canadian resident, whether or not you've ever opened a TFSA or filed a tax return.

Can I have multiple TFSA accounts at different banks?

Yes - you can hold TFSAs at multiple institutions, but your contribution room is shared across all of them combined, not multiplied per account.

What happens if I contribute while a non-resident of Canada?

You don't accumulate new TFSA room for any year you're a non-resident, and contributing while a non-resident triggers an additional 1% per month penalty tax until the amount is withdrawn or you become a resident again.

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