The "TFSA Contribution Room Calculator" is a Java-based application that simplifies the process for Canadians to calculate their available TFSA contribution room.
Users enter their birth year, total contributions, and past withdrawals to determine the amount they can still contribute without exceeding limits. The intuitive interface includes fields for these inputs and a "Calculate" button that displays the contribution room available for the current year. This tool accounts for the TFSA's carry-forward feature, ensuring users can plan their finances effectively without over-contributing.