Max Tfsa Contribution Room

If you have never contributed to a tfsa you can deposit a total of 69 500.

Max tfsa contribution room.

You can also carry forward any unused contribution room from previous years. How tfsa contribution room is calculated. The choice of investing in your tfsa or rrsp first is still a debated question but what isn t up for debate is your contribution amount per year and how much you accumulate in contribution room. The tfsa account holder may withdraw money from the account at any time free of taxes.

Past tfsa contribution limits. The annual tfsa contribution limits per year since 2009 are listed below. Your tfsa contribution room is the maximum amount that you can contribute to your tfsa. The annual tfsa dollar limit for the years 2009 2012 was 5 000.

The annual tfsa dollar limit for the year 2015 was 10 000. Unused tfsa contribution room rolls over from one year into the following year. Income earned on contributions is not taxed. We got em all.

The tfsa account is relatively new and often referred to as a younger sibling to the rrsp. Starting in 2009 tfsa contribution room accumulates every year if at any time in the calendar year you are 18 years of age or older and a resident of canada. The tfsa contribution limits starts accumulating once you turn 18 unlike rrsp where you need to have income. A tfsa is an account in which canadian residents 18 years and older can save or invest.

The maximum annual contribution room for each year prior to 2013 was 5 000 per year. Your tfsa contribution room can be carried forward indefinitely. The annual tfsa dollar limit for the years 2013 2014 was 5 500. So you re looking for the past annual tfsa contribution limits.