What happens when I don’t use my contribution room for the year?
If you don't use your entire contribution room for the year, it carries over to the following year. This means you can use the contribution room set for that year and the remainder from past years.
What is my maximum contribution room?
The maximum contribution room for any year combines your total contribution room for that year and past years. In this case, the past years are those in which you didn't wholly utilize their entire contribution room. Remember that no matter how many TFSAs you have, your contribution limit will always be the same.
What is the maximum that I can deposit in my TFSA account?
You can put up to $250 into your TFSA every two weeks or $125 weekly. Your maximum semi-monthly contribution is $270. Remember that these restrictions are only for 2023 and may change after this year.