# How can I find out my TFSA contribution balance for the year?



## Siwash (Sep 1, 2013)

Hey folks,

I am pretty sure I know what my balance is but to be on the safe side and avoid a penalty, I checked the CRA website. I went through the windows to register (date of birth, SIN, etc...) and they asked to enter the information on line 207. Can't find that. Is it on my tax return? Notice of assessment? Where the heck is it? My T4 doesn't have a line "207"

Thanks in advance.


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## Eclectic12 (Oct 20, 2010)

Is there some TFSA transaction that is confusing you?

This should be not be different than balancing a cheque book ... add up all of TFSA contribution room granted (must be 18+, a resident of Canada and it's either $5K for 2009 through 2012 or $5.5K for 2013 and 2014, which is granted on Jan 1st). Subtract all contributions and add back withdrawals, as of Jan 1st *the following year*.

http://www.tfsa.gc.ca/

It generally works better IMO to be doing the add/subtract in time order and as the contributions/withdrawals/grants become effective ... but as long as you aren't missing any info, it will all work out in the end.


If you want to register with CRA's site to check what they have on file, line 207 on your tax return is Registered Pension Plan deduction.
http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/ddctns/lns206-236/207-eng.html 

I'd have to check my last NOA to see if it lists line 207 as part of the summary that is included on the NOA.


Keep in mind that my understanding is that the CRA number won't be up to the minute as I believe the financial institutions report to CRA after the year has been completed. If so, this will likely mean that the number you will see is what was true for Jan 1st, 2013 and won't take into account any contributions made in 2014. 


Cheers


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