TFSA CALCULATOR
Calculate how much you need to save in a tax-free savings account (TFSA) to reach your goals. You’ll get an illustration of savings growth and a comparison of returns between investing in a TFSA and investing in a non-registered account.
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- This calculator is offered for informational purposes only.
- It is important to check your TFSA contribution limit and respect this limit. Annual contributions are restricted to the annual limit ($6,000 for 2022 and $6,500 for 2023). Check the limit for the current year.
- Since the introduction of the TFSA in 2009, the total contribution limit must not exceed $88,000 in 2023. You may carry forward any unused portion from previous years and add it to your annual contribution limit.
- The rate of return used for this simulation is 5% by default. Real returns may vary.
- The marginal rate is rounded based on income and province of residence. If no income is entered, the marginal rate is set to 40% by default.
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Your TFSA savings results
for years
Additional tax-sheltered growth
Non-registered growth
Your contribution
This result is for information purposes only and is calculated based on the information you have provided and one certain assumptions.
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