TFSA LIMITS 2026

It's 2026, and that means a fresh new year for your Tax-Free Savings Account (TFSA)!

Understanding your contribution room is key to growing your money without the taxman taking a bite.

The TFSA dollar limit for 2026 is officially $7,000!

But wait, there's more! If you've been eligible for a TFSA since it launched in 2009 and have never contributed, your cumulative contribution room is now a massive $109,000! Imagine all that tax-free growth!

Key TFSA Pro-Tips for 2026:

1. Withdrawal Rule Reminder: If you withdraw funds from your TFSA this year, that room only gets added back to your limit on January 1st, 2027. Don't re-contribute in the same year unless you have existing unused room!

2. Avoid the 1% Penalty: Over-contributing to your TFSA can result in a penalty of 1% per month on the excess amount. Always check your room!

3. Find Your EXACT Room: The most accurate place to confirm your personal TFSA contribution room is through the CRA's "My Account" portal. (Just remember it can take a few months for them to update with the previous year's transactions).