TFSA vs. RRSP: Learn which registered account to prioritise with our TFSA and RRSP Guide.
This calculator helps you determine how much money you will have in your TFSA based on your contributions. It can also be used as a contribution limit calculator to see how much you are able to contribute.
Here are the results for your TFSA.
What is the 2026 TFSA contribution limit?
The TFSA contribution limit for 2026 is $7,000. This is the same as 2024 and 2025. The limit is indexed to inflation and rounded to the nearest $500, so the next increase will occur when cumulative inflation pushes the base above $500.
TFSA contribution limit by year
With the contribution limit for 2026 at $7,000, the total lifetime contribution room is now $102,000 for those eligible to participate since the TFSA was introduced in 2009.
Here is a breakdown of the TFSA contribution limits by year since the inception of the TFSA in 2009.
| Period | TFSA annual limit |
|---|---|
| 2024–2026 | $7,000 |
| 2023 | $6,500 |
| 2019-2022 | $6,000 |
| 2016-2018 | $5,500 |
| 2015 | $10,000 |
| 2013-2014 | $5,500 |
| 2009-2012 | $5,000 |
TFSA cumulative contribution limit by age
For those turning 18 years old in 2026 (born in 2008), you will have a total contribution limit of $7,000 if you are otherwise eligible to open a TFSA. For those who are 35 or older, you will be able to contribute $102,000 to your TFSA if you were eligible since 2009. For all others in between, here is a chart that shows your total TFSA contribution room.
| Age | Cumulative contribution limit |
|---|---|
| 18 | $7,000 |
| 19 | $14,000 |
| 20 | $20,500 |
| 21 | $26,500 |
| 22 | $32,500 |
| 23 | $38,500 |
| 24 | $44,500 |
| 25 | $50,000 |
| 26 | $55,500 |
| 27 | $61,000 |
| 28 | $71,000 |
| 29 | $76,500 |
| 30 | $82,000 |
| 31 | $87,000 |
| 32 | $92,000 |
| 33 | $97,000 |
| 34 or older | $102,000 |
TFSA statistics
How are people in Canada taking advantage of their Tax-Free Savings Account? These are some of the TFSA statistics based on data processed up to January 15, 2024 which is for the 2022 tax year.
How many people have a TFSA in Canada?
There were 3,071,990 TFSA accounts opened during the year and 1,513,970 accounts closed for a total of 28,223,300 TFSA accounts in Canada for the 2022 tax year.
While this makes it seem like the majority of people in Canada have a TFSA the actual number is much lower. It is possible to have multiple TFSA accounts, so long as your contributions across the accounts do not exceed your limit. For this reason there are only 17,774,340 TFSA account holders in Canada.
Of these total account holders, only 9,818,480 have made contributions to their TFSA with 7,955,860 having no contributions to their TFSA. There are are 1,539,620 TFSA holders who maximized their contributions.
What is the average TFSA value?
The average TFSA in Canada was $29,173 which is based on the fair market value of the assets held in the TFSA.
This average value is heavily impacted by the age of the TFSA holder. Those who are in an older age group in Canada have been able to contribute to their TFSA over a longer period of time and have a overall higher contribution room compared to those at a younger age.
Average TFSA value by age in Canada
This table breaks down the average TFSA fair market value by age group:
| Age Group | Average Value |
|---|---|
| Under 20 | $3,304 |
| 20 to 24 | $6,558 |
| 25 to 29 | $10,961 |
| 30 to 34 | $13,822 |
| 35 to 39 | $15,594 |
| 40 to 44 | $17,604 |
| 45 to 49 | $21,177 |
| 50 to 54 | $26,479 |
| 55 to 59 | $33,242 |
| 60 to 64 | $39,756 |
| 65 to 69 | $45,156 |
| 70 to 74 | $49,367 |
| 75 to 79 | $53,942 |
| 80 and over | $56,598 |
What does it take to be in the top 1% of TFSA account holders?
Here is a breakdown of the TFSA accounts in Canada by percentages:
| Fair Market Value | Number of Holders | Percentage |
|---|---|---|
| $0 to $99,999 | 16,817,278 | 94.62% |
| $100,000 to $199,999 | 921,525 | 5.18% |
| $200,000 to $299,999 | 29,298 | 0.16% |
| $300,000 to $399,999 | 3,648 | 0.02% |
| $400,000 to $499,999 | 1,078 | 0.01% |
If you want to be in the top 1% of TFSA accounts by fair market value your TFSA would need to fall in the $200,000 to $299,999 category. For the top 0.01% of TFSA accounts you would need a value in the bracket of $400,000 to $499,000.
There are currently 374 TFSA accounts that have a value of $1 million dollars or more in Canada. Of these 374 accounts 29 of them have values that are in excess of $5 million dollars.
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