Updated Checked by the Tax-Services.ca editorial team How we check
The TFSA dollar limit for 2027 has not been published yet (checked 31 October 2026). The last official figure is $7,000 for 2026, the same as in 2024 and 2025. By law the limit is $5,000 adjusted for inflation and rounded to the nearest $500, so it changes only in multiples of $500. The CRA usually announces the new figure in the fall.
Status on 31 October 2026: The Canada Revenue Agency table of limits (page dated 28 October 2026) already lists the 2027 RRSP limit, the YMPE and the YAMPE, but its TFSA column stops at 2026. The CRA page on calculating your contribution room says the limit for 2026 is $7,000 and shows nothing for 2027. The 2027 figure will appear on those two pages. The federal indexation factor for 2027 has not been published either.
What do we know about the TFSA limit for 2027 today?
We know the rule, and we know the last figure. We do not know the 2027 number, and neither does anyone else outside the government. Some websites already print a 2027 amount. Those are projections, none of them sits on a CRA page, and we do not repeat them here. Until the CRA posts the figure on its Canada Revenue Agency: MP, RRSP, DPSP, TFSA limits and YMPE table, the honest answer is that the 2027 limit is not out.
What were the TFSA limits in past years?
The table below uses the CRA limits for every year from 2009 to 2026. The last column adds up the room of someone who qualified for every year since 2009. Most people have less, because room only builds for years in which you qualified.
| Year | Annual TFSA limit | Total room since 2009 (always eligible) |
|---|---|---|
| 2009 to 2012 | $5,000 a year | $20,000 |
| 2013 and 2014 | $5,500 a year | $31,000 |
| 2015 | $10,000 | $41,000 |
| 2016 to 2018 | $5,500 a year | $57,500 |
| 2019 to 2022 | $6,000 a year | $81,500 |
| 2023 | $6,500 | $88,000 |
| 2024 | $7,000 | $95,000 |
| 2025 | $7,000 | $102,000 |
| 2026 | $7,000 | $109,000 |
| 2027 | Not published yet | Not published yet |
The totals in the last column are our additions of the official yearly limits, except the $109,000 for 2026, which is the figure for someone eligible since 2009.
How is the TFSA limit set, and why can a web estimate not be checked?
The rule sits in section 207.01 of the Income Tax Act, on the Justice Laws Website: Income Tax Act section 207.01. The law fixes $5,000 for 2009 to 2012, $5,500 for 2013 and 2014, and $10,000 for 2015. For each year after 2015 the limit is $5,000 adjusted for each year after 2009, the way section 117.1 adjusts tax brackets, then rounded to the nearest multiple of $500. A figure exactly halfway between two multiples goes to the higher one.
That is why estimates are hard to check. The adjustment uses the same indexation method as the federal brackets, and the 2027 factor has not been published (the 2026 factor was 2.0%). The CRA also does not print the unrounded amount. Since $7,000 is a rounded number, the unrounded 2026 amount sits from $6,750 up to just under $7,250, by our reading of the rounding rule and not as an official figure. Without the exact starting amount and the official 2027 factor, nobody can show their work, so a number on a blog is a guess.
How do I find my own TFSA room?
Your room is your own, and the Canada Revenue Agency: calculate your TFSA contribution room page explains it. Each 1 January the yearly limit is added to your room, and unused room from earlier years carries forward. Contributions reduce your room straight away, even if your CRA account has not caught up. Withdrawals do not give room back until 1 January of the next calendar year.
To see the CRA’s figure, sign in to your CRA account, choose your individual account, then Savings and pension plans, View TFSA details and Contribution room. The page also offers a worksheet, form RC343. It warns that the CRA account may not show your latest transactions, so compare it with the records from your bank or other financial institution before you contribute.
What happens if I go over my TFSA room?
Any excess amount in a TFSA is taxed at 1% per month for as long as it stays there. The CRA page Canada Revenue Agency: if you owe tax on excess TFSA amounts says the tax applies to the highest excess in the account during each month. Its own example: $2,000 over the limit in June and removed in September costs $20 for each of June, July, August and September, so $80. Taking it out in June would have limited the tax to $20.
You file a TFSA Return (form RC243) by 30 June of the year after the tax applies. A deliberate over-contribution can bring extra tax, and the CRA describes a process for asking it to waive or cancel tax, without listing eligibility rules. Unlike the RRSP, the CRA TFSA pages describe no cushion, so treat your room figure as a hard limit. The CRA’s advice is to withdraw an excess as soon as possible and not to wait for a notice.
What can I do before the 2027 limit is published?
- Check your room in your CRA account and against your financial institution’s records. This number is yours and does not depend on 2027.
- Plan with $7,000 as the 2026 limit and treat 2027 as unknown. A plan that needs a certain 2027 amount is not ready.
- Remember the withdrawal timing. Money taken out in 2026 returns to your room on 1 January 2027, and the CRA says not to put it back in the same calendar year unless you are sure you have room.
- Compare options with our TFSA calculator and the TFSA versus RRSP calculator, and see whether a TFSA withdrawal is taxable.
The RRSP side is already out, and our RRSP contribution limit for 2027 article covers it. The 2026 versus 2027 tax numbers page shows which figures are published and which are not, and the 2027 tax questions page answers related questions.
Where does this information come from?
Rules and figures come from the Canada Revenue Agency table of MP, DB, RRSP, DPSP, ALDA, TFSA limits, YMPE and the YAMPE (page dated 28 October 2026), the CRA pages on calculating TFSA contribution room, withdrawals and excess TFSA amounts, and section 207.01 of the Income Tax Act on the Justice Laws Website. Checked on 31 October 2026. This is an independent information site: we provide no services, we do not represent the CRA or any organization, we collect information from open sources, and we do not guarantee that anything here is accurate or current. We accept no liability for decisions based on it. Check the official source before you rely on it. See the full disclaimer.
Frequently asked questions
What is the TFSA limit for 2027?
The 2027 TFSA dollar limit has not been published yet (checked 31 October 2026). The last official limit is $7,000 for 2026. The CRA lists new limits on its table of RRSP, TFSA and YMPE amounts. Figures on other websites for 2027 are projections, not CRA numbers.
How is the TFSA annual limit calculated?
For years after 2015 the limit is $5,000 adjusted for inflation since 2009 under the same method used for tax brackets, then rounded to the nearest $500. The Income Tax Act fixed the earlier years at $5,000, $5,500 and $10,000. The CRA publishes the result each year.
How much TFSA room do I have?
It depends on the years you qualified, what you contributed and what you withdrew. Someone eligible every year since 2009 has $109,000 of total room in 2026 before contributions. Check your own figure in your CRA account under View TFSA details and Contribution room.
What is the penalty for over-contributing to a TFSA?
Excess TFSA amounts are taxed at 1% per month on the highest excess in the account during each month. For example, $2,000 over the limit left in the account for four months costs $80. Withdraw the excess as soon as possible and file a TFSA Return by 30 June of the following year.
When do I get TFSA room back after a withdrawal?
The CRA adds a withdrawn amount back to your contribution room on 1 January of the next calendar year, not right away. A withdrawal made in 2026 restores that room in 2027. Putting it back in the same year without enough room counts as an over-contribution.