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Maximum TFSA contribution calculator for 2021

Calculate the maximum you can contribute in 2021

Enter these variables into the calculator: TFSA Start Year = the first year you were eligible for the TFSA, Contribution Year = last year or year of contribution, Previous amount contributed = the total amount of your previous contributions.

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The TFSA

The tax-free savings account, since 2009, allows Canadian over 18 years of age to save for the future, without having to pay income tax on investment income and capital gains.

In 2020 the annual TFSA limit was fixed to 6000$.

Calculation of TFSA contribution limit


Maximum contribution for the current year for your TFSA + Unused contributions from previous years.

To facilitate the implementation of the calculation, our formula (which returns the same results as above) is as follows:

Sum of all the maximums between Start Year and Year of Contribution = Maximum contribution amount

Calculation example

The following fields are entered:

  • Start year = 2014
  • Contribution year = 2018
  • Past Contribution amount = $ 1,400

$ 5500 (2014) + $ 10,000 (2015) + $ 5,500 (2016) + $ 5,500 (2017) + $ 5,500 (2018) - $ 1,400 = $ 30 600$ that can be contributed

TFSA's annual limit

  • Maximum for 2009 to 2012 = $ 5,000
  • Maximum for 2013 and 2014 = $ 5500
  • Maximum for 2015 = $ 10 00
  • Maximum for 2016 = $ 5,500
  • Maximum for 2017 = $ 5,500
  • Maximum for 2018 = $ 5,500
  • Maximum for 2019 = $ 6000
  • Maximum for 2020 = $ 6000
  • Maximum for 2021 = $ 6000

Note that any changes in the value of your savings (TFSA investments) will not affect the annual limit for the current year or subsequent years.

However, amounts you withdraw from your TFSA can be recovered in the next year.

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