The 2026 TFSA contribution limit is $7,000. That dollar limit is the same as 2024 and 2025. Cumulative TFSA contribution room for someone who has been eligible every year since 2009 and never contributed is $102,000 as of January 1, 2026, plus the new $7,000 for a total of $109,000 going into 2026.
Annual TFSA contribution limit by year
The Tax-Free Savings Account dollar limit is set each year by the federal government and indexed to inflation, then rounded to the nearest $500. The table below shows the limit for every year since the program started in 2009 and the running cumulative total for someone who turned 18 before 2009.
| Year | Annual limit | Cumulative room |
|---|---|---|
| 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 cumulative figure assumes a Canadian resident who turned 18 in or before 2009, has never made a TFSA contribution, and has never withdrawn from a TFSA. Anyone who turned 18 after 2009 starts accumulating room from January of the year they turned 18.
How TFSA contribution room is calculated
TFSA contribution room is the sum of three components: the current year’s dollar limit ($7,000 in 2026), any unused room from prior years, and any amounts withdrawn from a TFSA in prior years (re-added on January 1 of the year after the withdrawal). Withdrawals do not reduce contribution room permanently.
Eligibility requirements
To open and contribute to a TFSA, a person must be a Canadian resident with a valid Social Insurance Number and at least 18 years old. Some provinces and territories set the age of majority at 19 (BC, NB, NL, NS, NWT, NU, YT). In those jurisdictions, an 18-year-old still accumulates contribution room but cannot open a TFSA until age 19. Non-residents can hold an existing TFSA but cannot make new contributions while non-resident.
Over-contribution penalty
Contributing more than the available room triggers a 1% per month tax on the excess amount. The tax applies for every month the over-contribution remains in the account. CRA tracks contribution room based on information reported by financial institutions, but the official record can lag actual contributions by months. The taxpayer is responsible for tracking room independently to avoid penalties.
Where to confirm your contribution room
The most authoritative source for personal TFSA contribution room is the Canada Revenue Agency My Account portal. The figure shown there is updated after each tax filing season. Between filing seasons, the displayed room may not reflect contributions made earlier in the current year. The Notice of Assessment from the most recent T1 return also reports TFSA contribution room as of the assessment date.
What counts as a contribution
Cash contributions, in-kind transfers (such as moving shares from a non-registered account into a TFSA), and dividend reinvestments funded by deposits all count toward annual contribution room. Income earned inside the TFSA (interest, dividends, capital gains) does not reduce or use contribution room. A direct transfer between TFSAs at different institutions does not affect contribution room, provided the transfer is initiated through the institutions and not by withdrawing then re-contributing.
Frequently asked questions
- What is the TFSA contribution limit for 2026?
- The 2026 TFSA dollar limit is $7,000.
- What is the cumulative TFSA room going into 2026?
- $109,000 for someone eligible every year since 2009 who has never contributed and never withdrawn.
- Do TFSA withdrawals add back to contribution room?
- Yes, but not until January 1 of the year following the withdrawal. A 2025 withdrawal is added to 2026 room.
- What is the over-contribution penalty?
- 1% per month on the excess amount, applied for every month it remains in the account.
- Can a non-resident contribute to a TFSA?
- No. Non-residents can hold an existing TFSA but cannot contribute. Contributions made while non-resident face a 1% per month tax.
- Where is the authoritative source for my TFSA room?
- CRA's My Account portal. The Notice of Assessment also reports it as of the assessment date.
- How is the annual TFSA limit determined?
- Indexed to inflation under the Income Tax Act and rounded to the nearest $500. Announced by Finance Canada each fall.