TFSA Contribution Limits for 2025
The Tax-Free Savings Account is one of the best wealth-building tools available to Canadians. All growth inside a TFSA is completely tax-free.
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Key Takeaways
- 2025 TFSA contribution limit is $7,000
- Total cumulative room since 2009 is $102,000
- Unused room carries forward indefinitely
- Withdrawals are added back next year
2025 Contribution Limit
The 2025 TFSA annual contribution limit is $7,000. If you've been eligible since 2009 and never contributed, your total room is $102,000.
Historical Limits
- 2009-2012: $5,000/year
- 2013-2014: $5,500/year
- 2015: $10,000
- 2016-2018: $5,500/year
- 2019-2022: $6,000/year
- 2023: $6,500
- 2024-2025: $7,000/year
TFSA Rules
- Must be 18+ and Canadian resident
- Unused room carries forward forever
- Withdrawals create new room the following year
- All growth and withdrawals are completely tax-free
Over-Contribution Penalty
Exceeding your limit results in a 1% per month penalty on the excess amount.
Check Your Room
Log into CRA My Account to see your exact TFSA contribution room.
Maximize Your TFSA
Tax Punjabi can help you make the most of your tax-free savings.