Last updated: Mar 17, 2023
Contribution room or limit you can contribute to your Tax Free Saving Account (TFSA) in year 2023 is $6,500. Total contribution room since the beginning of time from year 2009 to 2023 is $88,000.
| YEAR | LIMIT |
|---|---|
| 2009 | $ 5,000.00 |
| 2010 | $ 5,000.00 |
| 2011 | $ 5,000.00 |
| 2012 | $ 5,000.00 |
| 2013 | $ 5,500.00 |
| 2014 | $ 5,500.00 |
| 2015 | $ 10,000.00 |
| 2016 | $ 5,500.00 |
| 2017 | $ 5,500.00 |
| 2018 | $ 5,500.00 |
| 2019 | $ 6,000.00 |
| 2020 | $ 6,000.00 |
| 2021 | $ 6,000.00 |
| 2022 | $ 6,000.00 |
| 2023 | $ 6,500.00 |
| Total Limit | $ 88,000.00 |
Total limit applies only to those who turned 18 in 2009, go to CRA website to find out exactly how much your total contribution limit is. Note that it’s also important to go to CRA website to find out more about penalty for exceeding TFSA limit.
ps. This is not a financial advise, I posted this info for my own reference.