How is RRSP room calculated?

Your annual RRSP room is the lesser of (a) 18% of your prior year's earned income or (b) the CRA dollar limit ($32,490 for 2025), minus any pension adjustment (PA) reported on your T4. Unused room from previous years carries forward indefinitely.

How is TFSA room calculated?

TFSA room is the annual limit ($7,000 for 2025), plus any unused room from prior years (carry-forward), plus any withdrawals from prior years (re-added the following January 1). If you turned 18 in 2009 or earlier and never contributed, your cumulative room is $102,000 as of 2025.

Where can I see my official room?

CRA My Account at canada.ca/cra-my-account, on your most recent Notice of Assessment, or by phone (1-800-959-8281). This calculator is an estimate — over-contribution penalties (1% per month on RRSP excess over $2,000, 1% per month on any TFSA excess) make it worth checking the official number before maxing out.

When is the RRSP contribution deadline?

60 days after the calendar year ends — so for the 2025 tax year, the deadline is March 2, 2026 (since March 1 is a Sunday). Contributions in the first 60 days of the new year can be deducted on either tax return.

Can TFSA withdrawals be re-contributed in the same year?

No. Withdrawals only restore room on January 1 of the following year. Re-contributing in the same year creates an over-contribution unless you have other unused room.

RRSP & TFSA Contribution Room

Finance· 33 tools

Free Canadian RRSP & TFSA room calculator. RRSP room is 18% of last year's earned income up to $32,490 for 2025, minus pension adjustments, plus unused carry-forward room. TFSA room is the annual limit ($7,000 for 2025) plus carry-forward and any prior-year withdrawals. This tool estimates both — the official figure is in your CRA My Account.

2024 earned income (CAD)

Salary, business income, rental income — Box 14 plus self-employment.

RRSP carry-forward

Pension adjustment (PA)

TFSA carry-forward

2024 TFSA withdrawals

2025 tax year · RRSP max $32,490 · TFSA annual $7,000 (cumulative $102,000 since 2009)

Estimates only · verify your official room in CRA My Account before contributing.

2025 RRSP room

$13,500

$13,500 new + $0 carry-forward

2025 TFSA room (this year)

$7,000

$7,000 annual + $0 carry + $0 re-added

18% formula$13,500

Capped at $32,490$13,500

Less PA−$0

Disclaimer: For informational purposes only. This is not financial, tax, or legal advice — consult a licensed professional before making decisions.

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