TFSA Calculator Canada — Room & Tax-Free Growth
Rebuild your 2026 contribution room from the official annual limits, test a planned deposit, and project the account balance without confusing investment growth with contribution room.
Published by GrowThenDraw Editorial Team · Editorial policy · Methodology & sources
The planned contribution fits the reconstructed room. Compare this result with CRA My Account and your own 2026 transaction records before depositing.
$7,000 a year is modelled. Future TFSA dollar limits after 2026 are not yet known.
| Year | Deposits that year | Total future deposits | Modelled growth | End balance | No-fee balance |
|---|---|---|---|---|---|
| 1 | $7,000 | $7,000 | $3,174 | $60,174 | $60,316 |
| 2 | $7,000 | $14,000 | $6,948 | $70,948 | $71,267 |
| 3 | $7,000 | $21,000 | $11,359 | $82,359 | $82,895 |
| 4 | $7,000 | $28,000 | $16,443 | $94,443 | $95,239 |
| 5 | $7,000 | $35,000 | $22,241 | $107,241 | $108,345 |
| 6 | $7,000 | $42,000 | $28,795 | $120,795 | $122,259 |
| 7 | $7,000 | $49,000 | $36,148 | $135,148 | $137,032 |
| 8 | $7,000 | $56,000 | $44,349 | $150,349 | $152,715 |
| 9 | $7,000 | $63,000 | $53,448 | $166,448 | $169,366 |
| 10 | $7,000 | $70,000 | $63,497 | $183,497 | $187,044 |
| 11 | $7,000 | $77,000 | $74,552 | $201,552 | $205,812 |
| 12 | $7,000 | $84,000 | $86,674 | $220,674 | $225,738 |
| 13 | $7,000 | $91,000 | $99,924 | $240,924 | $246,893 |
| 14 | $7,000 | $98,000 | $114,370 | $262,370 | $269,352 |
| 15 | $7,000 | $105,000 | $130,082 | $285,082 | $293,197 |
| 16 | $7,000 | $112,000 | $147,136 | $309,136 | $318,513 |
| 17 | $7,000 | $119,000 | $165,609 | $334,609 | $345,390 |
| 18 | $7,000 | $126,000 | $185,586 | $361,586 | $373,924 |
| 19 | $7,000 | $133,000 | $207,156 | $390,156 | $404,219 |
| 20 | $7,000 | $140,000 | $230,412 | $420,412 | $436,382 |
TFSA contribution room in 2026: limits, withdrawals and examples
Follow the $109,000 maximum calculation, a complete worked example, the next-year withdrawal rule and CRA's monthly excess-tax method.
Your TFSA balance is not your contribution room
A TFSA can hold cash, GICs, mutual funds, ETFs, bonds and other qualified investments. Its market value rises or falls with those holdings, but that change does not use or create contribution room. A $50,000 account can have $20,000 of room, no room, or an excess contribution — the balance alone cannot answer the question.
That is why this page runs two separate calculations. The first rebuilds 2026 room from eligibility, contributions and withdrawals. The second projects the investments already inside the TFSA plus future deposits. Neither number is allowed to silently change the other.
How the 2026 contribution-room calculation works
The calculator adds every official TFSA dollar limit from the first year you were both at least 18 and resident in Canada. It then adds ordinary withdrawals made through 31 December 2025 and subtracts all contributions through that date and all contributions already made in 2026 across every TFSA.
The maximum cumulative dollar limits are $109,000 for someone eligible in every year from 2009 through 2026. That is not a universal personal limit: years of non-residency, past contributions, withdrawals, transfers and special distributions can change the answer. Use 2009 as the first eligible year when you were already eligible before the TFSA began.
A 2026 withdrawal comes back as room in 2027
An ordinary withdrawal does not free room immediately. The amount is restored on 1 January of the next calendar year. Re-contributing the same money during 2026 can therefore cause an excess unless enough unused room already existed.
The calculator keeps 2026 withdrawals outside the current-room result and reports them as a separate 2027 restoration. This timing rule is one of the most common reasons a TFSA that appears comfortably below its old balance can still be over-contributed.
What the growth projection does — and does not do
Future deposits are added at the start of each month, annual fees are subtracted from the return assumption and the resulting nominal rate is divided by twelve. The no-fee comparison uses the same cash flows so the difference isolates modelled fee drag.
The projection assumes the monthly deposits are permitted by your personal room. It does not forecast TFSA dollar limits after 2026, verify financial-institution records, value investments in real time or guarantee a return. Test a conservative case as well as your central assumption.
Frequently asked questions
What is the TFSA contribution limit for 2026?
The annual TFSA dollar limit for 2026 is $7,000. Your personal available room may be higher because unused room carries forward and prior-year withdrawals return as room, or lower because of contributions and years when you were not eligible.
What is the maximum cumulative TFSA limit in 2026?
It is $109,000 for a Canadian resident who was at least 18 in every calendar year from 2009 through 2026 and has never contributed. It is not the correct maximum for someone who turned 18 later or became a Canadian resident later.
Do TFSA investment gains reduce contribution room?
No. Interest, dividends and capital gains earned inside the TFSA do not reduce room. Investment losses do not create room either. Contributions and eligible withdrawals drive the room calculation, not the account's market value.
Can I put a TFSA withdrawal back in during the same year?
Only if you already have enough unused contribution room. An ordinary withdrawal made in 2026 is added back on 1 January 2027, not on the withdrawal date.
What happens if I over-contribute to a TFSA?
The CRA generally charges 1% per month on the highest excess amount in each month until the excess is removed or new room absorbs it. The calculator shows a one-month illustration only because the actual tax depends on the timing and highest excess in every month.
Is a TFSA actually tax-free?
Contributions are not deductible, but eligible investment income and ordinary withdrawals are generally tax-free in Canada. Non-resident contributions, prohibited or non-qualified investments, advantages and professional-style trading can have separate tax consequences.
Why should I still check CRA My Account?
Financial institutions report TFSA activity after year-end, so the CRA figure can lag recent transactions. CRA tells holders to compare My Account with their own institution records before contributing. This calculator is a reconciliation aid, not access to your official account.
Rules verified 26 July 2026 against official CRA sources:
- CRA annual limits, eligibility, withdrawals and contribution-room rules
- CRA contribution records and My Account timing
- CRA tax-free growth, withdrawals and federal benefit treatment
- CRA 1% monthly tax on excess TFSA amounts
- CRA 2026 contribution-room worksheet (RC343)
The 2026 annual dollar limit is $7,000. Excess tax is generally 1% per month on the highest excess in that month. Educational reconciliation and projection only, not financial, investment or tax advice.