Limits, Fees and 2026 Account Rules
TFSA contribution room in 2026: $7,000 a year, $109,000 cumulative and how to track it yourself
How TFSA room builds from age 18, the yearly limits since 2009, how withdrawals come back, worked room calculations and how to reconcile CRA My Account with your records.
For 2026 every eligible Canadian resident aged 18 or older receives $7,000 of new TFSA room. Room accumulates every year from the year you turn 18 (or 2009, when TFSAs began, whichever is later) even if you never open an account, so someone who was 18 or older and resident in 2009 and has never contributed has $109,000 of room in 2026. Withdrawals are added back on January 1 of the following year, not immediately. CRA My Account shows your room as of January 1, but it may not include this year's transactions, so your own record is what keeps you out of trouble.
This guide is part of the 2026 account rules overview. It focuses on calculating and tracking room. General information, not financial advice.
Annual TFSA limits since 2009
| Years | Annual limit | Running total at the end of the period |
|---|---|---|
| 2009 to 2012 | $5,000 | $20,000 |
| 2013 and 2014 | $5,500 | $31,000 |
| 2015 | $10,000 | $41,000 |
| 2016 to 2018 | $5,500 | $57,500 |
| 2019 to 2022 | $6,000 | $81,500 |
| 2023 | $6,500 | $88,000 |
| 2024 to 2026 | $7,000 | $109,000 |
The limit is indexed to inflation and rounded to the nearest $500, so it changes only in some years. The CRA announces the next year's figure in late autumn.
The room formula
Your TFSA room on January 1 of any year is:
Unused room at the end of last year + this year's annual limit + all withdrawals made last year
(Qualifying transfers between your own TFSAs are not withdrawals, and some special amounts are excluded.) During the year, every contribution reduces your available room; withdrawals during the year do not increase it until the following January.
Worked example: someone who turned 18 in 2016
An illustrative saver born in 1998 turned 18 in 2016 and has lived in Canada since.
| Step | Amount |
|---|---|
| Room accumulated 2016 to 2026: $5,500 × 3 + $6,000 × 4 + $6,500 + $7,000 × 3 | $68,000 |
| Contributions made 2016 to 2025 | −$40,000 |
| Withdrawals made 2016 to 2024 (already restored) | +$12,000 |
| Withdrawal made in 2025 (restored January 1, 2026) | +$5,000 |
| Room available on January 1, 2026 | $45,000 |
If this person withdraws $10,000 in March 2026 to repair a car, the room stays at $45,000 minus whatever they contribute in 2026. The $10,000 comes back on January 1, 2027.
Worked example: a newcomer to Canada
An illustrative newcomer became a resident in 2023 at age 30 and got a SIN that year. Room starts in the year of residence: $6,500 (2023) + $7,000 (2024) + $7,000 (2025) + $7,000 (2026) = $27,500. Years before arriving do not count. The same logic works in reverse: no room accrues for a full year of non-residence, and contributing while non-resident is penalized; see leaving Canada.
Eligibility details
- Age: room starts in the calendar year you turn 18. In provinces and territories where the age of majority is 19 (British Columbia, New Brunswick, Newfoundland and Labrador, Nova Scotia, Nunavut, the Northwest Territories and Yukon), many institutions will open a TFSA only at 19, but the room from age 18 is not lost.
- Residence and SIN: you must be a Canadian resident with a valid social insurance number to contribute.
- No upper age: unlike the RRSP and FHSA, a TFSA can stay open for life.
- Individual only: there are no joint TFSAs. You can give money to a spouse or adult child to contribute to their own TFSA without the income being attributed back to you while it stays in the TFSA.
How to reconcile My Account with your own records
- Get the starting figure. In My Account, find "TFSA room available on January 1" for the current year and the transaction summary for past years.
- List this year's contributions and withdrawals at every institution, with dates. Institutions report them to the CRA, but often only once a year, so My Account can lag by months.
- Separate transfers from withdrawals. A direct transfer between TFSAs, arranged by the receiving institution, does not affect room. Taking cash out and depositing it elsewhere is a withdrawal followed by a new contribution.
- Treat a discrepancy as a question, not a fact. If My Account and your records disagree, find the transaction that explains it before you deposit more. Over-contributions are taxed at 1% a month on the highest excess in each month, with no buffer.
The TFSA re-contribution mistakes guide shows how the most common over-contributions happen.
Growth and losses do not change room
Room is based on what you put in and take out, not on the account's value. If $20,000 grows to $35,000 and you withdraw all $35,000, you get $35,000 of room back next year. If a $20,000 investment falls to $12,000, you cannot top it back up beyond your room: the $8,000 loss is not restored. That is one reason to keep speculative investments out of a TFSA, or at least to size them knowing a loss is permanent.
Quebec notes
The TFSA (CELI) is a federal plan, and Quebec also exempts TFSA income and withdrawals. The age-of-majority question does not arise in Quebec, where it is 18. In Quebec a successor holder is generally named in a will rather than on the plan form; see beneficiaries and successor holders.
Frequently asked questions
Does unused TFSA room ever expire?
No. It carries forward for life, as long as you remain a resident.
Does interest or growth in the TFSA count as a contribution?
No. Only deposits count. Income earned inside the TFSA does not use room.
Can I gift money to my spouse's TFSA?
Yes. Your spouse contributes it using their own room, and income earned in the TFSA is not attributed back to you.
Is the CRA figure wrong if it doesn't match my records?
It may simply be out of date. Check whether all institutions have reported this year's transactions.
Official sources
- Canada Revenue Agency — TFSA room, Form RC243 and the TFSA guide RC4466
- CRA: MP, DB, RRSP, DPSP, ALDA, TFSA limits and YMPE — TFSA limits by year
- Financial Consumer Agency of Canada — choosing savings and investment options
- Revenu Québec — Quebec treatment of TFSA income
