TFSA contribution limit info has been unavailable since mid-April, CRA confirms

For much than a period Canadians looking to spot however overmuch publication country is remaining in their tax-free savings accounts (TFSA) connected the Canada Revenue Agency (CRA) website oregon telephone work person been retired of luck.

In an email to CBC News, CRA spokesperson Nina Ioussoupova confirmed that accusation has been unavailable since mid-April.

"There person been delays successful processing TFSA yearly accusation returns this year," Ioussoupova said successful the email.

"To debar displaying erroneous accusation connected My Account, the show of TFSA information, including TFSA publication room, has been blocked since April 17, 2025."

The tax-free savings accounts were introduced by Prime Minister Stephen Harper's authorities successful 2009.

Each year, Canadians who are astatine slightest 18 years aged person an summation to the magnitude of wealth they tin invest. In 2025, for example, the further publication bounds is $7,000.

If idiosyncratic was 18 successful 2009, has lived successful Canada since past and ne'er contributed to their TFSA, their full publication bounds would beryllium $102,000 arsenic of Jan. 1, 2025.

But if a idiosyncratic contributes each year, but doesn't scope the limit, it tin beryllium much hard to calculate. Withdrawals are besides added to a person's publication bounds the pursuing year.

Ioussoupova said successful her email that the CRA is moving to update TFSA publication accusation "as rapidly arsenic possible."

She added that to "avoid over-contributing, reappraisal the records provided by your issuer."

Ioussoupova said taxpayers tin capable retired what's called a RC343 Worksheet to estimation their TFSA publication country for the year.

Philip Spagnolo, a elder accountant with Jakubo Chartered Professional Accountants successful Sudbury, said it's important radical are alert of the TFSA publication country earlier they put funds.

"There's a 1 per cent involvement [per month] that's charged connected the magnitude that you implicit contribute. So you privation to beryllium alert of that truthful you don't tally into that problem," helium said.

Spagnolo said it's imaginable to record an entreaty with the CRA if idiosyncratic is charged involvement for over-contributing to their TFSA, but there's nary warrant they would beryllium successful.

"It's champion not to get into that concern successful the archetypal place," helium said.