Max Tfsa Contribution Room

How tfsa contribution room is calculated.

Max tfsa contribution room.

Income earned on contributions is not taxed. The annual tfsa contribution limits per year since 2009 are listed below. Unused tfsa contribution room rolls over from one year into the following year. We got em all.

The annual tfsa dollar limit for the years 2013 2014 was 5 500. The annual tfsa dollar limit for the years 2009 2012 was 5 000. A tfsa is an account in which canadian residents 18 years and older can save or invest. The tfsa contribution limit for 2020 is 6 000.

If you have never contributed to a tfsa you can deposit a total of 69 500. Your annual tfsa contribution room increase can be found here currently it s 6000 00 year indexed to inflation. 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. 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.

So you re looking for the past annual tfsa contribution limits. The annual tfsa dollar limit for the year 2015 was 10 000. You can also carry forward any unused contribution room from previous years. The tfsa account is relatively new and often referred to as a younger sibling to the rrsp.

Your tfsa contribution room increases every year after you turn 18. 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. Past tfsa contribution limits.