TFSA contribution room calculator

How much room do you have in your Tax-Free Savings Account? For many it’s not a simple question. The amount you’re allow to put into this tax-sheltered account depends on your age and how much you may already have in it.

As a reminder, a TFSA allows any Canadian over the age of 18 to save or invest money in a tax-free account. “Tax free” means that you don’t pay taxes on the money you make inside your TFSA. That means things like interest payments, stock dividends or capital gains. (Don’t get us started about the name. Yes, it’s called a savings account, but it’s designed to hold investments).

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Every year more room gets added to the contribution limit for everyone 18 and older—and it’s cumulative meaning your contribution room builds each year. More importantly, if you take money out of the account, you get that room back on January 1 the following year. Just don’t go over your limit. Doing so will invite stiff penalties.

So how much room do you have? Try our tool to find out.

TFSA contribution room calculator

Available TFSA contribution room:

This Year:
Next Year:

* Note that the calculator assumes next year's contribution limit will be the same as this year’s.

This tool is designed for future planning purposes only and cannot account for past adjustments to contribution room due to withdrawals (other than those made within the past year). If you think you might be close to your allowable contribution room limit please contact the Canada Revenue Agency to verify this information.

Compare the Best TFSA Rates in Canada »

Updated January 2020.

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