TFSA Calculator Canada 2026: Tax-Free Growth and Contribution Room
Work out your total TFSA contribution room and project tax-free growth over 30 years. 2026 limit $7,000, cumulative room up to $109,000. Free and private.
Last updated: June 2026
What is a TFSA? A Tax-Free Savings Account lets your investments grow completely tax-free, and withdrawals are never taxed. Unlike an RRSP, contributions are not deductible. The 2026 limit is $7,000, and cumulative room since 2009 reaches $109,000.
2026 maximum: $7,000
โ ๏ธ Exceeding your TFSA limit triggers a 1% per month penalty on the excess. Withdrawn room is added back on January 1 of the following year.
Contribution room
- Total available room
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- Balance after 10 years
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- Balance after 20 years
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- Balance after 30 years
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| Year | Contribution | Growth | Balance |
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Growth you never pay tax on
The TFSA is the simplest tax break in Canada: put money in, let it grow, and never pay tax on the gains or the withdrawals. This TFSA calculator works out your total contribution room based on when you became eligible, then projects how your balance grows tax-free over 30 years.
Your room is the sum of every annual limit since you turned 18, with a floor of 2009 when the TFSA launched. Someone eligible the whole time has $109,000 of room in 2026. Because the room carries forward, a late start does not cost you the earlier years once you become eligible, your own clock begins then.
The real power is compounding without tax drag. In a regular account, tax on interest, dividends and gains quietly slows your growth every year. The calculator shows the gap by comparing your TFSA against a taxable account over 30 years. A TFSA often beats an RRSP for people who expect a similar or higher income in retirement, since RRSP withdrawals are taxed. See the full trade-off in our RRSP vs TFSA comparison. Everything here runs privately in your browser.
Disclaimer: TFSA growth projections are estimates and assume a steady annual return, which real markets do not provide. The tax-saving comparison is illustrative. Verify your personal contribution room at CRA My Account and do not over-contribute. Full disclaimer.
How it works
Three quick steps โ no account, nothing uploaded to a server.
Set your eligibility year
Choose the year you turned 18 in Canada.
Enter contribution and return
Add your annual contribution and expected return.
See tax-free growth
Get your total room and 30-year balance projection.
Related reading
Rates and rules on this page are verified against Canada Revenue Agency (CRA) TFSA guidance. Last checked July 2026.
FAQ
Frequently asked questions
What is the TFSA contribution limit for 2026?
The 2026 TFSA annual limit is $7,000. If you were 18 or older and a Canadian resident in 2009, when the TFSA started, your total cumulative room is $109,000. If you became eligible later, you accumulate room from that year onward. Unused room carries forward indefinitely, so you do not lose it by not contributing.
How is a TFSA different from an RRSP?
A TFSA gives no upfront tax deduction, but all growth and withdrawals are completely tax-free, forever. An RRSP gives you a deduction now but taxes withdrawals later. A TFSA also never affects income-tested benefits like OAS or GIS, and you can withdraw anytime. It often wins for people who expect a similar or higher income in retirement.
What happens if I over-contribute to my TFSA?
Exceeding your TFSA limit triggers a penalty of 1% per month on the excess amount for as long as it stays in the account. A common mistake is re-contributing a withdrawal in the same year. When you withdraw, that room is only added back on January 1 of the following year, not immediately. Always check your room in CRA My Account before topping up.
When does withdrawn room come back?
If you withdraw from your TFSA, the amount you took out is added back to your contribution room, but only on January 1 of the next calendar year. So if you withdraw $5,000 in June, you cannot put it back until January without risking an over-contribution penalty, unless you have other unused room available.
Can I lose money in a TFSA?
Yes, if you invest in something that falls in value. A TFSA is an account type, not an investment, so what is inside it, stocks, funds, GICs or cash, determines your return. Losses inside a TFSA are not deductible and do not restore contribution room. This calculator assumes a steady annual return, which real markets will not deliver smoothly.
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