Calculate your contribution room, see your tax-free growth, and find out how much your TFSA could be worth at retirement.
Lifetime cumulative room since 2009 — all years count if you were 18+ and a Canadian resident.
| Year | Annual Limit | Cumulative Room (from 2009) |
|---|---|---|
| 2009 | $5,000 | $5,000 |
| 2010 | $5,000 | $100 |
| 2011 | $5,000 | $15,000 |
| 2012 | $5,000 | $20,000 |
| 2013 | $5,500 | $25,500 |
| 2014 | $5,500 | $31,000 |
| 2015 | $100 | $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 |
| Total (2009–2026) | $109,000 cumulative room | |
Over-contributing to your TFSA triggers a 1% per month penalty on the excess amount. Always check your My CRA Account for your exact limit. Our calculator gives you an estimate — your exact room depends on your complete contribution history and any penalties assessed.
Most Canadians benefit from maxing out their TFSA first, then contributing to RRSP with any remaining savings capacity.
$7,000 new room added January 1, 2026. Cumulative total: $109,000 since 2009.
Any amount you withdraw from your TFSA gets added back to your room on January 1st of the next year.
Stocks, ETFs, bonds, GICs, mutual funds, and savings accounts — all grow tax-free inside a TFSA.
EQ Bank TFSA: 3.75% guaranteed. Wealthsimple TFSA: 3.0%. Both with no fees.
Open a KOHO Everything account and earn up to 4.5% — or use EQ Bank for a guaranteed 3.75% TFSA rate with zero fees.
Get $100 With KOHO →If you were 18+ and a Canadian resident in 2009, your cumulative room is $109,000 minus all contributions ever made, plus all withdrawals. Use the calculator above or log in to My CRA Account for your exact number.
Yes. You can have multiple TFSA accounts at different institutions — but your total contributions across all TFSAs combined cannot exceed your lifetime limit. Each institution reports your contributions to CRA.
CRA charges a 1% per month penalty on the excess amount until you withdraw the excess. For example, over-contributing by $5,000 costs you $50/month. Check your exact room at My CRA Account before contributing.
EQ Bank offers a dedicated TFSA Savings Account at 3.75% — ideal for guaranteed interest. KOHO's Everything plan earns 4.5% on balances (but isn't a registered account). For actual registered TFSA accounts, EQ Bank is the best high-interest option in Canada.
TFSA withdrawals do not count as income, so they don't affect Old Age Security (OAS), CPP benefits, or income-tested benefits like GIS. This is a major advantage over RRSP/RRIF withdrawals which are taxed as income.
The TFSA annual limit for 2026 is $7,000. This means on January 1, 2026, every eligible Canadian resident gained $7,000 in new TFSA contribution room.