Short answer
Keep two lists. A room ledger: for each account, the room the CRA last confirmed, plus new room on January 1, minus what you have contributed since (for a TFSA, plus last year’s withdrawals). And a holdings list: one portfolio per account with what it holds and what it is worth. The CRA says to calculate TFSA room from your own records, because the TFSA information in your CRA account is updated only once a year.
Holdings in one place
Finman investment trackerThree accounts, three sets of rules
The TFSA, RRSP and FHSA each build contribution room differently, so one combined “registered savings” number does not work. Track each one on its own line.
| Account | New room | Withdrawals | Over the limit |
|---|---|---|---|
| TFSA | The yearly TFSA dollar limit ($7,000 for 2026), added on January 1. Unused room carries forward. | Added back as new room on January 1 of the following year. | Taxed at 1% per month on the excess. |
| RRSP | 18% of the previous year’s earned income, up to the annual RRSP limit ($33,810 for 2026, $35,390 for 2027), less any pension adjustment, plus unused room. | Taxed as income in the year you withdraw; the CRA’s deduction limit formula has no line that adds them back. | 1% per month on contributions more than $2,000 above your deduction limit. |
| FHSA | $8,000 in the year you open your first FHSA; in later years $8,000 plus unused room carried forward (at most $8,000), within a $40,000 lifetime limit. | Taxable withdrawals can create re-participation room under CRA rules. Room is shared by all your FHSAs. | 1% per month on the highest excess amount in the month (CRA example). |
Sources: CRA, Calculate your TFSA contribution room, CRA, RRSP deduction limit, CRA limits table, CRA, Contributing to your FHSA. Checked 3 November 2026.
The rule people trip over most: a TFSA withdrawal gives its room back only on the next January 1, so putting the money back in the same year can push you over the limit.
Where the official numbers come from
- RRSP deduction limit — the RRSP Deduction Limit Statement on your latest notice of assessment or reassessment, your CRA account, Form T1028 when the CRA sends it, or the CRA’s automated phone service (CRA).
- TFSA room — your CRA account shows a figure, but the CRA updates that TFSA information once a year in the spring with the previous year’s transactions and asks you to use your own records; Form RC343 is the worksheet (CRA). A contribution made in March does not show there until the following spring.
- FHSA room — $8,000 in the first year, then the CRA’s lesser-of calculation with the $40,000 lifetime cap (CRA). The room for the year applies to all the FHSAs you open, so add contributions at every institution together.
A one-page room ledger
One row per account and four columns are enough. Start from the last figure the CRA confirmed, then update it yourself during the year:
| Column | What goes in it |
|---|---|
| Room on January 1 | TFSA: unused room from last year + this year’s dollar limit + last year’s withdrawals. RRSP: the deduction limit from your notice of assessment. FHSA: $8,000 + carried-forward room. |
| Contributions this year | Every deposit, with its date and the institution. A direct transfer between two of your TFSAs is a qualifying transfer and does not use room; withdrawing yourself and depositing at another TFSA counts as a new contribution (CRA). |
| Withdrawals this year | TFSA only matters here: these come back as room next January 1. |
| Room left | Room on January 1 minus contributions this year. Check it before every deposit. |
The CRA’s own TFSA example shows the January 1 line at work: Alex ended 2025 with $6,000 of unused room after withdrawing $4,000 in October. On January 1, 2026 the room became $6,000 + $4,000 + the $7,000 limit for 2026 = $17,000 (CRA). Putting the $4,000 back in 2025 would have been an over-contribution unless Alex had other unused room.
A spreadsheet or a note on your phone holds this ledger well. Update it the day you contribute; the CRA’s figures arrive months later.
Keep the holdings of all three together
Room tells you what you may still add; the holdings tell you what each account is worth and what it owns. In Finman’s investment tracker you create one portfolio per account, for example “TFSA – Wealthsimple”, “RRSP – work plan” and “FHSA”. Each portfolio keeps its own currency, and each holding keeps its symbol, quantity, buy price, purchase date and fee. Prices refresh from free Stooq quotes when you ask; Finman then shows value, gain after fees and dividends, and allocation for each portfolio.
Nothing connects to the brokerage, so no login is shared. You enter holdings by hand from your latest statement, which lists every symbol, quantity and cost. A TFSA held as a cash savings account can be kept as an account with its balance instead.
Every portfolio counts in the net worth tracker at quantity × latest price, converted to your base currency, so the three registered accounts sit next to chequing, savings and debts in one total. Transfers between your own accounts stay out of income and spending, so moving money into a TFSA does not look like an expense in your budget. For a down payment, an FHSA pairs well with a savings goal with an amount and a date; financial goal setting covers the setup.
Finman does not calculate CRA contribution room; keep the ledger above for that.
Dates worth a calendar reminder
- January 1 — new TFSA dollar limit and last year’s TFSA withdrawals become room; update the ledger.
- First 60 days of the year — RRSP contributions in this window can count for the previous tax year. For the 2025 tax year the CRA lists contributions from March 4, 2025 to March 2, 2026 (CRA).
- After you file — copy the new RRSP deduction limit from your notice of assessment into the ledger.
- Late in the year — the CRA publishes the next year’s limits. On 3 November 2026 its table already showed the 2027 RRSP limit ($35,390); the 2027 TFSA limit was not yet listed (CRA limits table). Our news note on the 2027 limits tracks what is announced.
Frequently asked questions
How do I know my TFSA contribution room?
Add this year’s TFSA dollar limit, your unused room from previous years and the withdrawals you made last year, then subtract what you have contributed this year. The CRA asks you to use your own records, because the TFSA figure in your CRA account is updated only once a year, in the spring.
Where do I find my RRSP contribution limit?
On the RRSP Deduction Limit Statement of your latest notice of assessment or reassessment, in your CRA account, on Form T1028 if the CRA sends one, or through the CRA’s automated phone service.
Can I put money back into my TFSA after a withdrawal?
Yes, from January 1 of the following year, when the withdrawal is added back as room. Re-contributing in the same year only works if you still have unused room; otherwise the excess is taxed at 1% per month.
How much can I put in an FHSA?
$8,000 in the year you open your first FHSA. In later years the room is $8,000 plus unused room carried forward, with at most $8,000 carried forward, and total contributions are capped at $40,000 over your lifetime.
Can one app track my TFSA, RRSP and FHSA together?
For holdings and value, yes: in Finman you create one portfolio per account, enter holdings from your statements and refresh prices, and all of them count in your net worth. Contribution room is a CRA calculation, so keep a short room ledger next to it.
All three accounts, one picture
Create a portfolio for each registered account, refresh prices and see them next to your budget, goals and debts. Free during the open beta.
Track My Accounts FreeSources
- CRA, “Calculate your TFSA contribution room”
- CRA, “How contributions affect your RRSP deduction limit”
- CRA, “Where can you find your RRSP deduction limit”
- CRA, “Contributing to your FHSA”
- CRA, “Requesting a TFSA transfer”
- CRA, “MP, DB, RRSP, DPSP, ALDA, TFSA limits, YMPE and the YAMPE”
Figures checked on 3 November 2026. This article is general information about the CRA rules, not personal tax advice; your notice of assessment and your own records are the numbers that apply to you.
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