The 2026 limits at a glance
Each registered account has its own ceiling, set by the Canada Revenue Agency (CRA). The figures below apply to the 2026 calendar year.
| Account | 2026 limit | Notes |
|---|---|---|
| TFSA | $7,000 | Unused room carries forward with no end date |
| RRSP | 18 % of 2025 earned income, up to $33,810 | Minus any pension adjustment, plus unused room |
| FHSA | $8,000 a year | $40,000 over your lifetime |
The CRA has already published the 2027 RRSP dollar limit: $35,390. The 2027 TFSA limit had not been announced by October 2026; the CRA usually publishes it in November.
TFSA: annual limit and room since 2009
The TFSA started in 2009. You earn room for every year in which you are 18 or older and resident in Canada, whether or not you open an account. If you have qualified since 2009 and never contributed, your total room in 2026 is $109,000.
| Years | Annual limit |
|---|---|
| 2009 to 2012 | $5,000 |
| 2013 and 2014 | $5,500 |
| 2015 | $10,000 |
| 2016 to 2018 | $5,500 |
| 2019 to 2022 | $6,000 |
| 2023 | $6,500 |
| 2024 to 2026 | $7,000 |
Withdrawals are added back to your room on January 1 of the following year, not right away. Putting money back in the same year without enough room creates an excess, taxed at 1 % a month. Your exact room is shown in your CRA account.
RRSP: the 18 % rule
Your RRSP deduction limit for 2026 is the lesser of 18 % of your 2025 earned income and $33,810. From that, the CRA subtracts your pension adjustment if you belong to a workplace pension plan, then adds any room you have not used in earlier years.
For example, someone who earned $60,000 in 2025 and has no workplace pension gets $10,800 of new room for 2026 (18 % of $60,000). To reach the $33,810 cap, 2025 earned income would have to be about $187,833 or more. Your notice of assessment shows the exact figure.
FHSA: for a first home
- $8,000 of room in the year you open your first FHSA, and $8,000 more each following year.
- Unused room carries forward, but only up to $8,000, so the most you can put in during one year is $16,000.
- The lifetime limit is $40,000.
- To open one you must be a resident of Canada, at least 18 (19 in some provinces), no older than 71, and a first-time home buyer.
- The account must close by December 31 of the year of the earliest of three events: the 15th anniversary of your first FHSA, the year you turn 71, or the year after your first qualifying withdrawal.
How the three accounts differ
- TFSA: no deduction when you put money in, and nothing is taxed when you take it out. Withdrawals for any reason; the room comes back the next year.
- RRSP: contributions reduce your taxable income now; withdrawals are added to your income and taxed in the year you take them. Its main purpose is retirement.
- FHSA: deductible like an RRSP, and a qualifying withdrawal to buy a first home is not taxed, like a TFSA. Money not used for a home can be moved to an RRSP or RRIF without using RRSP room.
The deduction is worth more when your tax rate today is higher than the rate you expect when you withdraw. When the two rates are similar, a TFSA and an RRSP end up close.
Fitting it into the monthly budget
Filling a full TFSA year means about $583 a month; a full FHSA year, about $667. Planning a fixed transfer on payday, as a recurring expense in your budget, is easier than a lump sum in February. If you contribute to an RRSP, the refund arrives months later, so leave it out of the month-end plan until the CRA has paid it.
Sources
- CRA: MP, DB, RRSP, DPSP, ALDA, TFSA limits, YMPE and YAMPE (2026-10-11)
- CRA: RC4466 Tax-Free Savings Account guide for individuals (annual limits 2009-2025) (2026-10-11)
- CRA: Calculate your TFSA contribution room (2026 dollar limit $7,000) (2026-10-11)
- CRA: How contributions affect your RRSP deduction limit (2026-10-11)
- CRA: Definitions for FHSAs (lifetime limit, maximum participation period) (2026-10-11)
- CRA: Opening your FHSAs (eligibility) (2026-10-11)
- CRA: Tax deductions for FHSA contributions (carryforward up to $8,000) (2026-10-11)