How it adds up
You get TFSA room for every year since 2009 in which you were 18 or older and a resident of Canada. You do not need to open an account or file anything for the room to build up. Unused room never expires.
In the example above, someone born in 1980 was already 29 in 2009, so every annual limit since the start counts: four years at $5,000, two at $5,500, the one-off $10,000 in 2015, three more at $5,500, four at $6,000, $6,500 in 2023 and three years at $7,000. Total: $109,000.
Your room by the year you turned 18
If you have never contributed (and were resident in Canada since turning 18), your 2026 room depends only on the year you turned 18:
| Turned 18 in | Born in | TFSA room in 2026 |
|---|---|---|
| 2009 | 1991 | $109,000 |
| 2010 | 1992 | $104,000 |
| 2012 | 1994 | $94,000 |
| 2014 | 1996 | $83,500 |
| 2015 | 1997 | $78,000 |
| 2016 | 1998 | $68,000 |
| 2018 | 2000 | $57,000 |
| 2020 | 2002 | $45,500 |
| 2022 | 2004 | $33,500 |
| 2024 | 2006 | $21,000 |
| 2025 | 2007 | $14,000 |
| 2026 | 2008 | $7,000 |
If you turned 18 in a year not shown, the calculator above gives the exact figure: just change the birth year.
What to do next
- Check your official room in CRA My Account (or call CRA). It is good practice before a large deposit, especially if you may have had a TFSA in the past and forgotten about it.
- Choose where to open it. Banks, credit unions and online brokerages all offer TFSAs. A TFSA can hold savings, GICs, ETFs, stocks and more.
- Contribute at your own pace. There is no deadline. You can put in $50 a month or a lump sum; unused room simply carries forward.
Common worries, answered
- βI had an account years ago and closed it.β That is fine: deposits you made reduced your room, and withdrawals were added back the following year. Enter your totals in the calculator, or simply check My Account.
- βI lived abroad for a few years.β You do not earn room for years you were a non-resident. The calculator assumes one continuous period of residence, so if you left and came back, CRA My Account will give you the exact figure.
A reassuring note on taxes
Contributions are not tax-deductible (unlike an RRSP), but everything the money earns inside the TFSA β interest, dividends, capital gains β is tax-free, and withdrawals are tax-free too. Withdrawals also do not affect income-tested benefits like the GST/HST credit, the Canada child benefit or OAS.
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 yearβs transactions yet).
FAQ
How much TFSA room do I have if I never contributed?
If you were 18 or older and resident in Canada in 2009, $109,000 in 2026. If you turned 18 later, add up the limits from that year: for example $104,000 if you turned 18 in 2010, or $57,000 if you turned 18 in 2018.
Do I lose TFSA room if I never opened an account?
No. Room builds up every year from age 18 (or 2009) whether or not you have an account, and unused room carries forward with no time limit.
Can I put all $109,000 in at once?
Yes, if that is your actual room. There is no annual cap on using carried-forward room. Just check CRA My Account first to avoid an accidental over-contribution.
Sources (checked 5 November 2026): Canada Revenue Agency β βMP, DB, RRSP, DPSP, ALDA, TFSA limits, YMPE and the YAMPEβ (TFSA dollar limits 2009β2026; no 2027 figure listed) and βCalculate your TFSA contribution roomβ (canada.ca); CRA examples of tax payable on excess TFSA amounts; cross-checked with TaxTips.ca TFSA limits table.