November 14, 2022 – TFSA limit for 2023

by | Nov 15, 2022 | Industry Updates

 

CRA announced that the TFSA limit for 2023 will be $6,500. TFSA contribution room for the tax year consists of the current year limit ($6,500) + unused contribution room + previous years (2022) withdrawals. The lifetime contribution limit is as follows:

YearsLimit
2009, 2010, 2011 and 2012$5,000
2013 and 2014$5,500
2015$10,000
2016, 2017, and 2018$5,500
2019, 2020, 2021, and 2022$6,000
2023$6,500
Maximum lifetime contribution$88,000

For more information about the TFSA, visit Your Complete Annual Guide to TFSA Contributions.

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