How to calculate your available TFSA contribution room in 2025, what affects it, and how to avoid costly over-contribution penalties.
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Open KOHO Free — Code 45ET55JSYATFSA contribution room (also called contribution space or available room) is the maximum amount you can contribute to your TFSA at any given time without triggering an over-contribution penalty. Your room accumulates each year you are a Canadian resident aged 18 or older, and unused room carries forward indefinitely.
Your available TFSA room at any point is calculated as:
Available Room = Cumulative Annual Limits (since you turned 18) + Withdrawals from Prior Years − Total Lifetime Contributions
| Born in or Before | First Eligible Year | 2025 Cumulative Room (Never Contributed) |
|---|---|---|
| 1991 or earlier | 2009 | $95,000 |
| 1992 | 2010 | $90,000 |
| 1993 | 2011 | $85,000 |
| 1994 | 2012 | $80,000 |
| 1995 | 2013 | $75,000 |
| 1996 | 2014 | $69,500 |
| 1997 | 2015 | $64,000 |
| 1998 | 2016 | $54,000 |
| 1999 | 2017 | $48,500 |
| 2000 | 2018 | $43,000 |
| 2001 | 2019 | $37,500 |
| 2002 | 2020 | $31,500 |
| 2003 | 2021 | $25,500 |
| 2004 | 2022 | $19,500 |
| 2005 | 2023 | $13,500 |
| 2006 | 2024 | $7,000 |
| 2007 | 2025 | $7,000 |
One of the most important — and most misunderstood — aspects of the TFSA is how withdrawals work with contribution room. When you withdraw money from your TFSA, that amount is added back to your contribution room on January 1 of the following calendar year.
For example: If you withdraw $15,000 from your TFSA in March 2025, you do NOT get that room back until January 1, 2026. If you try to re-contribute that $15,000 later in 2025 without having sufficient unused room from prior years, you will over-contribute and face a 1% monthly penalty.
If you exceed your available TFSA room, the CRA charges a penalty of 1% per month on the highest excess amount in that month. This penalty accrues monthly until the excess is fully withdrawn. Even a short-term over-contribution of a few months can cost hundreds of dollars.
The most reliable way to check your available room is through the CRA's My Account portal. Log in at canada.ca/my-cra-account and look under "Tax-Free Savings Account (TFSA)" — it shows your available contribution room as of the current date. Note that the CRA's data may lag by one year, so also factor in any contributions you've already made in the current year.
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