For 2024, the annual TFSA limit is $7,000. The lifetime contribution total is $95,000 (as long as you were 18 or older in 2009, per the table below). Your annual Notice of Assessment from CRA outlines your personal contribution room. Just don't forget to account for the amount you contributed in the current year.
You never lose contribution room and if you withdraw in a particular year, you can add back the withdrawn amount the following year. For detailed information on TFSA's, please view CRA's TFSA guide for individuals.
Annual and cumulative limits since TFSA inception:
| Year | Annual Limit | Cumulative limit |
|---|---|---|
| 2009 | $5,000 | $5,000 |
| 2010 | $5,000 | $10,000 |
| 2011 | $5,000 | $15,000 |
| 2012 | $5,000 | $20,000 |
| 2013 | $5,500 | $25,500 |
| 2014 | $5,500 | $31,000 |
| 2015 | $10,000 | $41,000 |
| 2016 | $5,500 | $46,500 |
| 2017 | $5,500 | $52,000 |
| 2018 | $5,500 | $57,500 |
| 2019 | $6,000 | $63,500 |
| 2020 | $6,000 | $69,500 |
| 2021 | $6,000 | $75,500 |
| 2022 | $6,000 | $81,500 |
| 2023 | $6,500 | $88,000 |
| 2024 | $7,000 | $95,000 |
