The Tax-Free Savings Account (TFSA) contribution limit for 2021 is $6,000, remaining the same as 2019 and 2020.
 
If you have never contributed to a TFSA and have been eligible since its introduction in 2009, your cumulative contribution room will be $75,500 in 2021.
 
The annual TFSA contribution limit is indexed to inflation and automatically rounded to the nearest $500. According to the Canada Revenue Agency (CRA), the inflation indexation increase for 2021 is 1%.
 
Withdrawals are tax-free and can be re-contributed a year later. If you make a withdrawal, your gains and losses will be factored into your contribution room.