The contribution room for a TFSA carries forward year after year, which means that if you do not max out your contribution one year, it is not forfeited but is cumulative year after year. Your total contributions since the introduction of the Tax Free Savings Account in 2009 through to 2023 should not exceed $88,000. To find out what your total available contribution room is, refer to your last notice of assessment.
Please ensure your TFSA contributions are within your allowable limit set by Canada Revenue Agency (CRA) and you are solely responsible for confirming that any such contributions are within your allowable limits. All rules and contribution limits for TFSAs as set out by CRA and applicable legislation apply. Information about TFSAs is based on what is currently available from the Canadian government and can be subject to change.