🇨🇦 About the TFSA Contribution Room Calculator

The tfsa contribution room calculator is an essential tool for Canadians looking to maximize their tax-free savings. Whether you're planning your first TFSA contribution or tracking your available room, this calculator provides the insights you need to make informed decisions.

🇨🇦 TFSA Calculator Features

📊 Accurate Room Tracking

Calculate your exact contribution room based on Canadian TFSA rules and annual limits.

💸 Withdrawal Recovery

Automatically accounts for withdrawals made in previous years being added back to your room.

⚠️ Over-Contribution Alerts

Warns you if you're approaching or exceeding your contribution limit to avoid penalties.

📅 Year-by-Year Breakdown

View detailed annual limits and cumulative room from 2009 to present.

💡 When to Use This Calculator

  • 📊 Planning new TFSA contributions
  • 💸 After withdrawing money from your TFSA
  • 🤔 Unsure of your available room due to years of inactivity
  • 🔄 Moving funds between TFSA accounts
  • 📋 Annual contribution planning and tax optimization

📌 Tips for Better Results

  • Use your CRA MyAccount to verify past contributions and withdrawals
  • Include all TFSA accounts (e.g., with different institutions)
  • Only enter withdrawals made in previous years (not the current year)
  • If you turned 18 mid-year, your eligibility starts from that year
  • Consider maximizing your TFSA before using taxable accounts