The Tax-Free Savings Account is a useful tool for financial and tax planning. Because unused contributions can be carried forward to subsequent years, it’s important to know your balances.
If you want to know what your available contribution balance is, log in to the Canada Revenue Agency’s My Account service. At the top of the page, locate and click on the RRSP and TFSA tab. Then click the link titled Tax-Free Savings Account (TFSA) which will direct you to relevant information concerning your TFSA. One of the links on that page is entitled Contribution Room. By clicking on this link, you will see your annual and cumulative TFSA balances.
Register for a CRA My Account.
Learn more about registering for a CRA My Account.
