TFSA Contribution Limit Calculator
Check your eligibility
It looks like you may qualify. Verify your eligibility.
It appears that you may not qualify. Verify your eligibility.
Calculate your TFSA contribution limit
Over-contributing to your TFSA can result in a penalty of 1% per month on the excess amount until it is withdrawn.
Your results
You are not eligible to contribute, you haven't reached the age of majority.
TFSA contribution room limit
- Total Contribution Room Available
- Unused Contribution Room
- Used Contribution Room
Over-contribution:
Used Contribution Room:
Unused Contribution Room:
Total available contribution limit in 2024:
Note: You have to pay a penalty of 1% per month on the over-contribution amount until it is withdrawn.
Assumptions
- This calculator assumes Canadian residency. Contributions made to a Tax-Free Savings Account (TFSA) while a non-resident are subject to a tax. Visit the Canada Revenue Agency (CRA) to learn about the factors that determine non-residency.
- This calculator does not consider deposits made and withdrawn within the same year. Learn about making or replacing withdrawals from a TFSA.
- The maximum annual TFSA dollar limit is determined by the Canada Revenue Agency (CRA). Learn more about TFSA contribution limits.
- This tool is for educational purposes and should not be relied on to track TFSA contribution room.
- For advice on the treatment of taxation, investment or legal advice speak with a qualified professional.
Any results or calculations displayed on this site are made available for information purposes only, and do not constitute financial or legal advice. By using this calculator, you agree to our Website and Social Media Terms of Use and Privacy Policy.