When your room starts
You earn the annual TFSA limit for each year in which, at any time, you were 18 or older and a resident of Canada for tax purposes. The full annual amount applies even if you arrived late in the year: there is no proration. Years before you became a resident do not give any room.
Worked example
Priya was born in 1990 and became a resident of Canada in 2022. She has not used a TFSA before, and she deposited $5,000 in 2026.
- Room starts in 2022, the year she became a resident (she was already over 18).
- Limits 2022–2026: $6,000 + $6,500 + $7,000 + $7,000 + $7,000 = $33,500.
- Minus 2026 deposit: $33,500 − $5,000 = $28,500 still available.
Room by the year you became a resident
For someone who was 18 or older on arrival and has never contributed:
| Resident since | Total room in 2026 |
|---|---|
| 2015 | $78,000 |
| 2016 | $68,000 |
| 2017 | $62,500 |
| 2018 | $57,000 |
| 2019 | $51,500 |
| 2020 | $45,500 |
| 2021 | $39,500 |
| 2022 | $33,500 |
| 2023 | $27,500 |
| 2024 | $21,000 |
| 2025 | $14,000 |
| 2026 | $7,000 |
Things that help newcomers
- You need a Social Insurance Number (SIN) to open a TFSA. Once you have one, any bank, credit union or brokerage can open it.
- Room counts from residency, not from your SIN date. If you became a resident in 2022 but got your SIN later, 2022 still counts.
- File your Canadian tax returns. CRA uses them to confirm your residency and track your room in My Account.
- Temporary residents (work or study permits) can be residents for tax purposes too. Residency depends on your ties to Canada, such as a home, a spouse or dependants here. If you are unsure, CRA’s residency guidance or an advisor can help.
A gentle word of caution
Some newcomers assume they have the full $109,000 because that figure appears in many articles. Depositing that much when your real room is $33,500 would create a large over-contribution, taxed at 1% per month on the excess. If you are not sure about your start year, contribute a smaller amount first and check your TFSA room in CRA My Account once your first Canadian tax return has been assessed.
If you leave Canada later
You can keep your TFSA, and its income stays tax-free in Canada. But you do not earn new room for years when you are a non-resident, and contributions made while non-resident are taxed at 1% per month. Your new country may also tax the TFSA income.
This is an estimate from your own numbers. Your official figure is on the TFSA Room Statement in CRA My Account (note that it shows room as of January 1 and may not include this year’s transactions yet).
FAQ
Do newcomers get TFSA room back to 2009?
No. Room starts in the year you became a resident of Canada (and were 18 or older). Someone resident since 2022 has $33,500 of room in 2026.
Do I get the full TFSA limit if I arrived in December?
Yes. The full annual limit applies for the year you became a resident, even if you arrived late in the year. There is no proration.
I arrived in 2022 and deposited $5,000 in 2026. How much room is left?
$28,500, if you have not contributed before: $33,500 of room from 2022 to 2026 minus your $5,000 deposit.
Sources (checked 5 November 2026): Canada Revenue Agency – “MP, DB, RRSP, DPSP, ALDA, TFSA limits, YMPE and the YAMPE” (TFSA dollar limits 2009–2026; no 2027 figure listed) and “Calculate your TFSA contribution room” (canada.ca); CRA examples of tax payable on excess TFSA amounts; cross-checked with TaxTips.ca TFSA limits table.