TFSA Calculator

TFSA Calculator (Tax-Free Savings Account)

Check your remaining contribution room and project the future value of your TFSA.

Remaining TFSA contribution room $0
Total accumulated room since eligibility$0
Projected TFSA value after 0 years$0
The 2026 TFSA annual limit is $7,000. If you turned 18 and were a Canadian tax resident in 2009 or later and have never contributed, your total accumulated room would be as much as $109,000. This tool estimates your room based on the year you turned 18 (assuming continuous Canadian tax residency since then) — if you've ever made a withdrawal, that amount is added back to your room the following year, which this tool does not account for.
This tool provides estimates for general informational purposes only and does not constitute financial, insurance, tax, or legal advice. Actual figures may vary depending on your lender/insurer, individual circumstances, and current market conditions. InsureFiHub is not responsible for financial decisions made based on these results.

The Tax-Free Savings Account is one of the most flexible tools available to Canadians — contributions aren't tax-deductible, but withdrawals, and all the growth inside the account, are completely tax-free. This calculator estimates your total accumulated contribution room and projects your TFSA's future value.

How This Calculator Works

Your total contribution room is the sum of every year's TFSA annual limit since you turned 18 (assuming continuous Canadian tax residency), from $5,000 in 2009 up to $7,000 for 2026. If you turned 18 in 2009 or earlier and have never contributed, your accumulated room by 2026 would total $109,000. This calculator estimates your room based on the year you turned 18 — it doesn't account for any withdrawals, which get added back to your available room starting the following calendar year.

Frequently Asked Questions

What is the TFSA contribution limit for 2026?

The annual TFSA dollar limit for 2026 is $7,000. Your actual available room is the sum of every year's limit since you turned 18 (or since 2009, whichever is later) minus whatever you've already contributed, plus any withdrawals from prior years added back.

What happens if I withdraw money from my TFSA?

The amount you withdraw is added back to your contribution room, but not until January 1 of the following year — withdrawing and recontributing in the same calendar year can cause an over-contribution and a CRA penalty if you don't have enough separate room available.

Is TFSA growth really tax-free?

Yes — unlike an RRSP, where withdrawals are taxed as income, both the investment growth inside a TFSA and any amount you withdraw are completely tax-free, with no impact on income-tested benefits like the GST/HST credit or Old Age Security.

What happens if I over-contribute to my TFSA?

The CRA charges a 1% per month penalty tax on the excess amount for as long as it stays in the account, so it's worth checking your exact available room (via your CRA My Account) before contributing if you're unsure.