TFSA contribution room calculator (2019)

EQ Bank Savings Plus Account


When did you turn 18?



How much money have you contributed to your TFSA in total?

$

How much money have you withdrawn from your TFSA in 2019?

$



TFSA contribution room available in 2019:

$ 63500.00

TFSA contribution room available in 2020:

$ 69500.00
(Assumes an additional $6000 in contribution room available in 2020.)

How TFSA contribution room is calculated

  • Your TFSA contribution limit increases every year after you turn 18 and can be carried forward indefinitely
  • The yearly increase can be found here (currently it's $6000.00/year, indexed to inflation)
  • If you withdraw money from your TFSA you do not lose the contribution room, however you can only recontribute the withdrawn amount after January 1st of the next calendar year
  • Overcontributing to your TFSA carries harsh penalties found here
  • This calculator only deals with withdrawals from the past year, if you have withdrawals from previous years you can recontribute this amount as well

Note: this calculator is now updated for 2019! If you want to find your remaining room for 2018 use the calculator as normal and subtract $6000.00 from the room available in 2019.

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