RRSP: on your notice of assessment
Your notice of assessment, the letter the CRA sends after it processes your tax return, includes an RRSP deduction limit statement. It shows two numbers:
- RRSP deduction limit: how much you can deduct for the next year.
- Available contribution room: how much you can put in for the next year, after any contributions you haven't deducted yet.
The same statement is in CRA My Account.
FHSA: on your notice of assessment, once you've opened one
If you've opened an FHSA, your notice of assessment includes an FHSA participation room statement. It shows your room for the next year and any contributions you haven't deducted yet. You'll also find it in CRA My Account, under savings and pension plans.
TFSA: only in CRA My Account
TFSA room isn't on your notice of assessment. CRA My Account shows your room as of January 1 and a list of the contributions and withdrawals your bank has reported.
Why the numbers can be out of date
Banks report TFSA and FHSA activity to the CRA after the year ends, so the CRA's figures may not include what you did this year. If you've put money in or taken money out since January 1, adjust for it yourself before you contribute.
Getting into CRA My Account
You sign in to CRA My Account on canada.ca with a CRA user ID or through your online banking. The first time, you'll need a security code the CRA sends by mail or email.