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Dale Jackson

Your Personal Investor


Congratulations, Canada. With the calendar turning to 2017, every adult will be allowed to contribute an additional $5,500 to their tax-free savings account. That means another $5,500 can be invested and the gains will never be taxed.

If you have been an adult since the TFSA was initiated in 2009 the cumulative contribution total is now $52,000; but exactly how much you can contribute will be different depending on your withdrawals over the past eight years.

If you turned 18 in the past eight years you have been climbing the TFSA ladder from ground zero.

Again, total cumulative contribution amounts vary if you have made withdrawals but if you turned 18 in the past eight years – and have never made a withdrawal – here are your contribution limits. 



Age in 2017 Cumulative Contribution Space
18 $5,500 
 19  $11,000 
20 $21,000 
21 $26,000 
22 $32,000 
23 $37,000
24 $42,000 
25 $47,000 
  26+  $52,000 


If you make a withdrawal, the contribution space is returned to you in the next calendar year.

The Canada Revenue Agency is the ultimate authority on your individual contribution situation. The CRA tabulates total contribution space at the end of each calendar year but might not post it on your individual online profile by March 1.