The 2025 TFSA annual limit is $7,000. Calculate your total cumulative contribution room and learn how to maximize your tax-free savings.
Enter the year you turned 18 (or 2009 if you were 18+ by 2009) and how much you've already contributed to calculate your total available room.
Your estimated available TFSA room in 2025:
*Withdrawals made in prior years are added back to your room on January 1 of the following year.
| Year | Annual Limit | Cumulative Total (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 |
*If you were 18 or older in 2009, your maximum cumulative contribution room as of January 1, 2025 is $102,000 (assuming no contributions have been made).
Any Canadian resident who is 18 years of age or older with a valid SIN can open a TFSA. Non-residents can hold an existing TFSA but cannot contribute without incurring a 1% monthly penalty on new contributions.
A TFSA is a registered account — the name is a bit misleading. It's not just a savings account. You can hold:
Best TFSA strategies: For short-term savings (emergency fund, house down payment): TFSA HISA at EQ Bank (3.00%) or Oaken Financial (3.40%). For long-term wealth building: TFSA invested in low-cost index ETFs at Wealthsimple Trade.
You can withdraw from your TFSA at any time for any reason with no tax penalty. The amount you withdraw is added back to your contribution room on January 1 of the following calendar year — not immediately.
Common TFSA mistake: Withdrawing and re-contributing in the same calendar year can cause an over-contribution if you don't account for timing. Always check your available room with CRA My Account before contributing.