The TFSA annual contribution limit for 2026 is $7,000. If you have never used a TFSA and have been eligible since the account launched in 2009, your total lifetime room is $109,000. But your personal number depends on your own contribution and withdrawal history.
Enter your birth year and total contributions to date to find your exact available room for 2026.
| Year | Annual Limit | Cumulative Total |
|---|---|---|
| 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 |
The most accurate way is through the CRA directly.
When you withdraw from a TFSA, that room does not come back until January 1 of the following year. Withdraw $5,000 in March 2026 and you cannot re-contribute that $5,000 until January 1, 2027. Put it back in 2026 without enough existing room and you are over-contributed.
This catches a lot of people off guard. It feels like money coming back out of your account should immediately free up room to put money back in. It doesn't work that way.
If you exceed your room the CRA charges 1% per month on the excess. On $5,000 over-contributed for three months that is $150 in penalties. The CRA tracks this through financial institution reporting and sends a letter when you go over.
The fix is immediate: withdraw the excess amount. The penalty stops accruing the month after you remove it.
Once you know your room the question is where to put it. I have held my TFSA at Wealthsimple since 2018. Commission-free trading and no account fees mean every dollar you contribute starts working immediately. Compare that to a bank brokerage where $9.99 per trade and quarterly account fees quietly drain small contributions before they have a chance to grow.
If you are opening a new Wealthsimple TFSA or transferring one from a bank, new users get a $25 cash bonus when they sign up with referral code 7-MDUG and deposit $100 or more.
$7,000 for 2026. Total lifetime room is $109,000 if you have been eligible since 2009 and have never contributed.
Log into CRA My Account at canada.ca. Your available room as of January 1, 2026 is listed under TFSA. Subtract any contributions made in 2026 to get your current available room.
Yes, but not until January 1 of the following year. Withdrawing in 2026 means the room comes back January 1, 2027. Re-contributing in the same year without enough existing room triggers the 1% monthly penalty.
The CRA charges 1% per month on the excess until you withdraw it. Withdraw the over-contribution immediately to stop the penalty. The CRA will notify you by letter if you go over.
Yes, indefinitely. Room you don't use in a given year accumulates and you can use it in any future year.
Yes. Many Canadians have TFSAs at more than one institution. Your total contribution room applies across all of them combined, not per account.
Use code 7-MDUG, deposit $100+, get $25 cash within 24 hours. Verified October 2026.
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