The TFSA program began in 2009. It is a way for individuals who are 18 years of age or older and who have a valid social insurance number (SIN) to set money aside tax free throughout their lifetime. Contributions to a TFSA are not deductible for income tax purposes. Any amount contributed as well as any income earned in the account (for example, investment income and capital gains) is generally tax-free, even when it is withdrawn. If you’re having trouble finding your contribution room, you can

Online

• Go to the CRA My Account login
• Log in with your preferred method. If you’ve set up your bank as a sign-in partner, this is the simplest way to access your CRA account.
• Under the tabbed header, navigate to RRSP and TFSA Screenshot
• Click Tax-Free Savings Account (TFSA) Screenshot
• Click Contribution Room
• Click Next at the disclaimer
• Look for 20XX TFSA contribution room on January 1, 20XX. This value is your most accurate contribution room since the date. Any contributions or withdrawals this year will not be included in this number

MyCRA mobile app

By Phone

1. Tax information Phone Service (TIPS) 1-800-267-6999
2. Be ready to give:
3. your social insurance number;
4. your month and year of birth; and
5. the total income you entered on line 150 of your previous year return.

Notice of Assessment

• latest tax return for your TFSA contribution room.

You will accumulate TFSA contribution room for each year even if you do not file an income tax and benefit return or open a TFSA.

• The annual TFSA dollar limit for the years 2009, 2010, 2011 and 2012 was $5,000.
• The annual TFSA dollar limit for the years 2013 and 2014 was $5,500.
• The annual TFSA dollar limit for the year 2015 was $10,000.
• The annual TFSA dollar limit for the year 2016 and 2017 was $5,500.
• The annual TFSA dollar limit for the year 2018 is $5,500.