When this number applies
The annual limit is set each year (indexed in $500 steps) and announced in the fall for the following January. Withdrawn amounts come back as room on the next January 1.
Your personal room is the sum of every year's limit since 2009 or since the year you turned 18, whichever is later, minus what you have contributed, plus any withdrawals that have already cycled back. The CRA shows your exact figure in My Account, though it only updates after institutions report, so early-year figures can lag.
For retirees the TFSA has a superpower the limit understates: withdrawals are not income, so they never touch the OAS clawback, GIS or any income-tested benefit.
| Years | Annual limit |
|---|---|
| 2009 to 2012 | $5,000 |
| 2013 to 2014 | $5,500 |
| 2015 | $10,000 |
| 2016 to 2018 | $5,500 |
| 2019 to 2022 | $6,000 |
| 2023 | $6,500 |
| 2024 to 2026 | $7,000 |
Quick questions
What is the total TFSA room for 2026?
$109,000 for someone who was 18 or older in 2009, has been a Canadian resident throughout and has never contributed. Younger savers sum the limits from the year they turned 18.
When does withdrawn room come back?
On January 1 of the following year. Re-contributing in the same calendar year without unused room triggers a 1% per month over-contribution tax, the most common TFSA mistake.
Do TFSA withdrawals affect OAS or GIS?
No. Withdrawals are not taxable income and are invisible to every income-tested benefit, which is why the TFSA plays a starring role in retirement withdrawal order.