Make moomoo TFSA your first choice for savings
TFSA numbers you need to know
CA$109,000
Total contribution limit if you were
18 or older in 2009
CA$7,000
TFSA contribution room for 2026
18+
Open an account with a
valid SIN
| Contribution limit | CA$7,000 for 2026 | 18% of previous year's income, up to CA$33,810 |
| Contribution deadline | December 31 but can carry forward | 60 days after December 31 |
| Tax-deductible | ||
| Withdrawals | Tax-free | Taxed as income (with exceptions) |
| Spousal plan |
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TFSA Calculator
Use our simple TFSA calculator to see
how much more you can save
with a moomoo TFSA.
how much more you can save
with a moomoo TFSA.
Fill in the savings information
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to get the result.
How do I open a TFSA?
Follow these easy steps to reach your financial goals!
Step 1:Open Account
Step 2:Deposit
Step 3:Invest
Submit your application
with your personal and financial details.
with your personal and financial details.
TFSA frequently asked questions
What is a TFSA?
A Tax-Free Savings Account (TFSA) is a flexible investment and savings option available to Canadian residents that allows your money to grow tax-free. Introduced in 2009, the TFSA lets you contribute a certain amount each year, and any income earned, whether from interest, dividends, or capital gains, is not subject to taxes, even when withdrawn. Read our comprehensive guide of TFSA: What Is a TFSA?
Who is eligible for a TFSA?
Canadian residents with a valid SIN who are at least 18 years old or the age of majority in their province or territory can open a TFSA.
What are the benefits of a TFSA?
Tax-Free Growth: Investment income in a TFSA isn't taxed, boosting your savings.
Flexible Withdrawals: Withdraw anytime without taxes for emergencies or needs.
Contribution Room: You can recontribute the amount you withdrew in the following year. You can carry-forward your unused contribution room.
For more TFSA benefits, read: Six Key Benefits of a TFSA You Should Know
Flexible Withdrawals: Withdraw anytime without taxes for emergencies or needs.
Contribution Room: You can recontribute the amount you withdrew in the following year. You can carry-forward your unused contribution room.
For more TFSA benefits, read: Six Key Benefits of a TFSA You Should Know
What is the lifetime limit for TFSA?
As of 2026, the lifetime TFSA contribution limit is CA$109,000 for those who were 18 or older in 2009. If you turned 18 after 2009, your contribution room accumulates from the year you became eligible, based on the annual limits. For more information, please see our detailed guide: TFSA Contribution Limit 2026
Is TFSA tax deductible?
No, TFSA contributions aren't tax-deductible, meaning they don't reduce your taxable income. However, the benefit lies in tax-free growth and withdrawals, as earnings within the account aren't taxed, and you can withdraw funds anytime tax-free.
Do you pay tax on TFSA withdrawals?
No, TFSA withdrawals are tax-free. Any income earned in the account, like interest, dividends, or capital gains, isn't taxed, and you can withdraw money anytime without tax penalties.
Can I transfer my TFSA to moomoo?
Yes, you can transfer your TFSA to moomoo with ease. Moreover, you will get amazing rewards by transferring your eligible assets to moomoo! For more information, please see: Transfer for Smart Investing and Get Cash Rewards!
Learn more about TFSA
TFSA (Tax-Free Savings Account) in Canada: Everything You Need to Know?
Read More >
Should I Put US Stocks in TFSA or RRSP?
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