TFSA Calculator: See Your Contribution Room
🏦 Calculate your remaining TFSA contribution room in just a few clicks.What is TFSA contribution room, anyway?
Short answer: There's a dollar limit to how much you can contribute to a TFSA in a given year. Your contribution room is the amount you can contribute this year, before hitting that limit.
Long answer: Tax-free savings accounts, or TFSAs, are popular because they have significant tax benefits. Any interest, dividends or capital gains you earn on money invested in a TFSA is completely tax free, even when you withdraw it from the account.
To maximize your TFSA benefits, you'll need to know exactly how much contribution room you have in a given year, so you don't exceed the annual limit. If you do, you'll pay an extra tax (boo).
For 2025, the TFSA contribution limit is $7,000.
However, the TFSA contribution room accumulates over time. If you were eligible to contribute to a TFSA in previous years, but didn’t do so, you have what's called "unused room." This previously unused amount can be added to the current year’s room. Together, they make up your total TFSA contribution room to date.
How to calculate TFSA contribution room
If you want to do the math on your own, here's how to calculate your TFSA contribution room:
Take the current year's contribution limit (for 2025, it's $7,000)
Add any unused contribution room you may have from previous years.
Add in the amount of any TFSA withdrawals you made in previous year.
The total is how much available contribution room you have.
🤓 If you want to do things the easy way, just a) use the calculator above or b) log into your MyCRA Account or c) call the CRA's automated phone line to ask (1-800-959-8281).
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