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TFSA new contribution room history
June 25, 2022
9:25 am
Norman1
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The raw annual new TFSA contribution room amounts calculated with indexation factors from CRA and a December 2016 Financial Post article:

Year Indexation TFSA New Room
Raw Rounded Actual
2009 $5,000.00 $5,000 $5,000
2010 0.6% $5,030.00 $5,000 $5,000
2011 1.4% $5,100.00 $5,000 $5,000
2012 2.8% $5,243.00 $5,000 $5,000
2013 2.0% $5,348.00 $5,500 $5,500
2014 0.9% $5,396.00 $5,500 $5,500
2015 1.7% $5,488.00 $5,500 $10,000
2016 1.3% $5,559.00 $5,500 $5,500
2017 1.4% $5,637.00 $5,500 $5,500
2018 1.5% $5,722.00 $5,500 $5,500
2019 2.2% $5,848.00 $6,000 $6,000
2020 1.9% $5,959.00 $6,000 $6,000
2021 1.0% $6,019.00 $6,000 $6,000
2022 2.4% $6,163.00 $6,000 $6,000
June 25, 2022
11:38 am
Dean
Valhalla Mountains, British Columbia
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.
Thanks for that Norman.

Projecting further to Jan. 2023, buy taking a 'Rough' Guess at what the Average inflation rate might end up being for All of 2022 (~ 6.5% ?), I don't see the TFSA limit going any higher than $6,500 for next year.

Sorry, I don't have a crystal ball ... that's just a Guesstimate.

Others may differ. Anyone else care to try ? sf-smile

    Dean

sf-cool " Live Long, Healthy ... And Prosper! " sf-cool

June 25, 2022
12:02 pm
Norman1
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CPI for October 2020 to September 2021 is 140.0.

CPI so far, from October 2021 to May 2022, is 146.9.

Those would take the raw new contribution room to

$6,163 * 146.9/140.0 = $6467.

It will depend on how CPI will be from now to September.

Since January, CPI has been advancing at a rate of about 13.7% per annum. That could change significantly if we have supply chain issues like poor harvests this fall and Russian foodstuff embargos continue.

November 26, 2022
7:15 am
Norman1
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Add 2023 TFSA numbers using latest 6.3% factor from CRA: Indexation adjustment for personal income tax and benefit amounts:

Year Indexation TFSA New Room
Raw Rounded Actual
2009 $5,000.00 $5,000 $5,000
2010 0.6% $5,030.00 $5,000 $5,000
2011 1.4% $5,100.00 $5,000 $5,000
2012 2.8% $5,243.00 $5,000 $5,000
2013 2.0% $5,348.00 $5,500 $5,500
2014 0.9% $5,396.00 $5,500 $5,500
2015 1.7% $5,488.00 $5,500 $10,000
2016 1.3% $5,559.00 $5,500 $5,500
2017 1.4% $5,637.00 $5,500 $5,500
2018 1.5% $5,722.00 $5,500 $5,500
2019 2.2% $5,848.00 $6,000 $6,000
2020 1.9% $5,959.00 $6,000 $6,000
2021 1.0% $6,019.00 $6,000 $6,000
2022 2.4% $6,163.00 $6,000 $6,000
2023 6.3% $6,551.00 $6,500 $6,500
November 25, 2023
10:50 pm
Norman1
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Add 2024 TFSA numbers using latest 4.7% indexation factor from CRA: Indexation adjustment for personal income tax and benefit amounts:

Year Indexation TFSA New Room
Raw Rounded Actual
2009 $5,000.00 $5,000 $5,000
2010 0.6% $5,030.00 $5,000 $5,000
2011 1.4% $5,100.00 $5,000 $5,000
2012 2.8% $5,243.00 $5,000 $5,000
2013 2.0% $5,348.00 $5,500 $5,500
2014 0.9% $5,396.00 $5,500 $5,500
2015 1.7% $5,488.00 $5,500 $10,000
2016 1.3% $5,559.00 $5,500 $5,500
2017 1.4% $5,637.00 $5,500 $5,500
2018 1.5% $5,722.00 $5,500 $5,500
2019 2.2% $5,848.00 $6,000 $6,000
2020 1.9% $5,959.00 $6,000 $6,000
2021 1.0% $6,019.00 $6,000 $6,000
2022 2.4% $6,163.00 $6,000 $6,000
2023 6.3% $6,551.00 $6,500 $6,500
2024 4.7% $6,859.00 $7,000 $7,000
November 25, 2023
11:31 pm
smayer97
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Thanks for the update Norman.

Based on these numbers, there would need to be a minimum 5.7% indexation for 2025 for the limit to be raised to $7500 in 2025.

November 26, 2023
4:46 pm
Doug
British Columbia, Canada
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smayer97 said
Thanks for the update Norman.

Based on these numbers, there would need to be a minimum 5.7% indexation for 2025 for the limit to be raised to $7500 in 2025.  

Or a change on government to the Conservatives. I suspect it's quite likely the Conservatives will include in their campaign promises to restore the $10,000 annual TFSA contribution limit, which wouldn't be as costly when it was still $5,000 per year under the Liberals, as it's been boosted to $7,000 thanks to indexation. sf-cool

Cheers,
Doug

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