What the calculator shows
Start with your available room on January 1, then enter contributions and withdrawals made during 2026. The result keeps current-year room separate from withdrawals that return to room on January 1 of the following year.
Calculation method
Remaining current room equals January 1 room minus current-year contributions, floored at zero. Any excess is shown as a possible over-contribution. Current-year withdrawals are displayed separately as the amount restored next January.
Inputs to confirm
Use your own records because CRA account data can lag. Combine activity across every TFSA. The annual 2026 limit is CA$7,000, but individual room depends on age, residency, prior contributions and withdrawals.
Worked example
If available TFSA room on 1 January 2026 is CA$7,000 and contributions during 2026 total CA$5,000, CA$2,000 of current-year room remains. A withdrawal entered for 2026 does not increase that CA$2,000; it is displayed separately because the withdrawn amount is restored on 1 January 2027.
Input variations
| Scenario | Room remaining in 2026 | Possible excess | Restored in 2027 |
|---|---|---|---|
| CA$7,000 room, contribute CA$5,000 | CA$2,000 | CA$0 | CA$0 |
| Same, plus CA$2,000 withdrawal | CA$2,000 | CA$0 | CA$2,000 |
| CA$7,000 room, contribute CA$8,000 | CA$0 | CA$1,000 | CA$0 |
Withdrawing and recontributing in the same year can create an excess unless unused room already covers the recontribution.
Differences from official documents
This is a room tracker, not a CRA account balance or penalty assessment. It does not reconstruct eligibility by age and residency, validate every transaction date, calculate monthly excess-TFSA tax, or account for corrections, qualifying transfers and non-resident contributions. Financial-institution reporting can reach CRA after a delay.
Thresholds and limits
The 2026 annual TFSA limit is CA$7,000, but it is only one part of personal room. Unused room carries forward, prior-year withdrawals return the next January, and current-year withdrawals do not return immediately. The calculator displays contributions beyond the entered opening room as a possible excess rather than allowing current-year withdrawals to offset them.
Documents to check
Start with your own TFSA transaction records from every institution and the prior year-end position. Compare them with CRA My Account, but allow for reporting delays. Check contribution and withdrawal dates, transfers made directly between institutions, residency dates and any CRA TFSA return or excess-amount notice.
Track room by calendar year and transaction date
TFSA room is an account-history calculation. The current annual limit alone cannot reconstruct eligibility, unused room, contributions and prior withdrawals.
Current-year withdrawals do not return immediately
A withdrawal is shown as room restored on 1 January of the following year. Re-contributing it during the same year can create an excess unless other room is available.
The January 1 starting figure must already include history
Age, Canadian residency, prior unused room, contributions and withdrawals across every TFSA determine the opening amount. Enter a reconciled figure rather than assuming the current annual limit.
CRA account data can lag
Financial institutions report transactions after year end, so recent activity may not yet appear. Keep statements and transaction dates, then compare them with CRA records before contributing.