TFSA contribution limits
You can make regular contributions to your TFSA throughout the year without needing to have an earned income. However, it is your responsibility to make sure you do not go over your maximum annual contribution limit.
Any over-contributions are subject to penalties and interest. The Canada Revenue Agency sets the yearly contribution limit (see table below).
Unused contribution room is accumulated every year to a maximum limit. Any withdrawals from your account will be added back as contribution room in the next year.
|
Taxation year |
TFSA annual limit |
TFSA cumulative limit |
|
2025 |
$7,000 |
$102,000 |
|
2024 |
$7,000 |
$95,000 |
|
2023 |
$6,500 |
$88,000 |
|
2022 |
$6,000 |
$81,500 |
|
2021 |
$6,000 |
$75,500 |
|
2020 |
$6,000 |
$69,500 |
|
2019 |
$6,000 |
$63,500 |
|
2018 |
$5,500 |
$57,500 |
|
2017 |
$5,500 |
$52,000 |
|
2016 |
$5,500 |
$46,500 |
|
2015 |
$10,000 |
$41,000 |
|
2014 |
$5,500 |
$31,000 |
|
2013 |
$5,500 |
$25,500 |
|
2012 |
$5,000 |
$20,000 |
|
2011 |
$5,000 |
$15,000 |
|
2010 |
$5,000 |
$10,000 |
|
2009 |
$5,000 |
$5,000 |