TFSA Tracker: Know Your Contribution Room
Use this free calculator to determine your total TFSA contribution room based on the year you turned 18. Enter your contributions to date to see how much room you have left.
TFSA contribution room calculator
TFSA room accumulates from the later of 2009 or the year you turned 18 as a Canadian resident.
Sum of all TFSA contributions you have ever made (not including growth or withdrawals added back).
Lifetime room
$109,000
Contributed
$50,000
Remaining room
$59,000
Show year-by-year breakdown
| Year | Annual limit | Cumulative |
|---|---|---|
| 2009 | $5,000 | $5,000 |
| 2010 | $5,000 | $10,000 |
| 2011 | $5,000 | $15,000 |
| 2012 | $5,000 | $20,000 |
| 2013 | $5,500 | $25,500 |
| 2014 | $5,500 | $31,000 |
| 2015 | $10,000 | $41,000 |
| 2016 | $5,500 | $46,500 |
| 2017 | $5,500 | $52,000 |
| 2018 | $5,500 | $57,500 |
| 2019 | $6,000 | $63,500 |
| 2020 | $6,000 | $69,500 |
| 2021 | $6,000 | $75,500 |
| 2022 | $6,000 | $81,500 |
| 2023 | $6,500 | $88,000 |
| 2024 | $7,000 | $95,000 |
| 2025 | $7,000 | $102,000 |
| 2026 | $7,000 | $109,000 |
How TFSA contribution room works
The Tax-Free Savings Account (TFSA) is one of the most powerful tools available to Canadian investors. Unlike an RRSP, contributions are made with after-tax dollars, but all investment income (capital gains, dividends, and interest) grows completely tax-free, and withdrawals are tax-free at any time for any purpose.
Your TFSA contribution room is determined by three factors: the annual dollar limit set by the CRA for each year (indexed to inflation and rounded to the nearest $500), the number of years you have been eligible (18 or older and a Canadian resident), and any prior withdrawals. Room accumulates automatically every January 1, whether or not you have a TFSA account open. Unused room carries forward indefinitely.
The annual limits have grown over time: $5,000 from 2009-2012, $5,500 in 2013-2014, a one-time bump to $10,000 in 2015, $5,500 in 2016-2018, $6,000 from 2019-2022, $6,500 in 2023, and $7,000 from 2024-2026. If you were 18 or older in 2009 and have never contributed, your total lifetime room in 2026 is $102,000. That is a significant amount of tax-free investing capacity.
A critical rule that catches many people off guard: withdrawals are not added back to your room until the following January 1. If you withdraw $10,000 in June 2025 and re-contribute it in September 2025, the CRA considers that $10,000 a new contribution for 2025. You will not get the room back until January 1, 2026. Over-contributing triggers a 1% per month penalty on the excess amount. WealthWatch tracks this automatically and warns you before you exceed your room.
Common TFSA mistakes
Over-contribution. The most common and costly mistake. It usually happens when someone withdraws from their TFSA and re-contributes in the same year, not realizing the room does not reset until January. The 1% monthly penalty adds up quickly. A $10,000 over-contribution costs $100 per month, or $1,200 per year. The CRA sends a letter, but often months after the excess began accruing. Check your room before every contribution.
Day trading in a TFSA. There is no CRA rule that says you cannot trade actively in a TFSA. However, the CRA has successfully reassessed taxpayers who turned small TFSA balances into hundreds of thousands through frequent, short-term trading. The CRA's position is that if you are carrying on a business of trading securities, the profits are business income, not investment income, and are fully taxable even inside a TFSA. Factors they look at include trade frequency, holding periods, total time spent, and specialized knowledge. Occasional swing trades are fine; treating your TFSA like a proprietary trading desk is not.
US dividends in a TFSA. The Canada-US tax treaty exempts RRSPs from US withholding tax, but TFSAs are not covered. US stocks and ETFs held in a TFSA are subject to 15% withholding on dividends, and you cannot claim a foreign tax credit because the TFSA has no "taxable income" to offset. For a $100,000 US dividend portfolio yielding 3%, that is $450 per year in unrecoverable tax. If you hold significant US dividend payers, an RRSP or non-registered account is more tax-efficient. WealthWatch shows the withholding impact for each position so you can optimize placement.