Now that 2026 is here, Canadians can contribute up to $7,000 to their Tax Free Savings Account (TFSA).This brings the total cumulative contribution room for someone eligible since 2009 to $109,000.
A TFSA remains one of the most flexible savings tools available: it offers tax-free growth on investments, allows withdrawals at any time without penalty, and can adapt to diverse goals—whether you're saving for a down payment, retirement, or unexpected expenses. Maximizing your contribution early in the year can help your savings grow faster, thanks to the power of compound growth in a tax-sheltered environment.
Where to find your TFSA contribution room information
Your TFSA contribution room information can be found by using one of the following services:
- your CRA account for individuals.
- your CRA acccount if you have an authorized representative.
- Automated service 1-800-959-8281