I have not yet created a TFSA, nor invested anything in it. I am looking to put some money in in 2011, what will my cap be?


All the gory details are available here.

More specifically your personal limit will be listed on you last tax assessment notice, that you would have received last April-ish when you filed last year's taxes.

As a first approximation, your situation may differ, if you have never contributed anything, your limit is likely $15,000 (as the program has been running three years as of 2011).

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  • That's my personal limit for 2010, correct? Once I file my 2011 taxes I'll find out my new personal limit? – blueberryfields Dec 10 '10 at 15:14
  • The (simplistic) math is basically $5,000 per year so far, so 2009 and 2010 give you $10k, and another $5k this year. – sdg Dec 10 '10 at 16:28
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    Additional info: Contribution room for TFSAs does not start until age 18. So, only individuals who were 18 or older in 2009 (when TFSAs started) would have a full $15,000 contribution room available today. – Chris W. Rea Dec 10 '10 at 18:24

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