TFSA versus RRSP
See how your marginal tax rate affects
the growth of your TFSA and RRSP.
| Alberta |
|
100,000
|
|
|
50,000
|
|
|
10,000
|
|
|
|
|
25
|
|
6.00%
|
Taxable income when you contribute
Enter the taxable income amount from line 260 of your personal income tax return when you contribute to the TFSA or RRSP.
Enter the taxable income amount from line 260 of your personal income tax return when you contribute to the TFSA or RRSP.
Taxable income when you withdraw
Enter the taxable income amount from line 260 of your personal income tax return when you withdraw from the TFSA or RRSP.
Enter the taxable income amount from line 260 of your personal income tax return when you withdraw from the TFSA or RRSP.
Contribution amount
The maximum annual contribution limit for TFSAs in 2019 is $6,000 and $26,500 for RRSPs.
The maximum annual contribution limit for TFSAs in 2019 is $6,000 and $26,500 for RRSPs.
Spend or invest
If you select 'invest', the refund is invested in the RRSP. If you select 'spend', the refund is spent elsewhere making the RRSP contribution the same as the after-tax TFSA contribution amount.
If you select 'invest', the refund is invested in the RRSP. If you select 'spend', the refund is spent elsewhere making the RRSP contribution the same as the after-tax TFSA contribution amount.
Input Error: Rate of return
The maximum rate of return you can enter is 15.00%.
The maximum rate of return you can enter is 15.00%.
Net Amount in 18 Years
TFSA
RRSP
| Contribution | TFSA | RRSP |
| Pre-tax dollars | $10,000 | $10,000 |
| Tax at % | $3,600 | $0 |
| After-tax dollars | $6,400 | $10,000 |
| Investment value in years | $27,648 | $42,919 |
| Tax at % | $27,648 | $42,919 |
| Net amount in years | $27,648 | $29,185 |
Assumptions
Calculations use marginal tax rates as of January 2019. Rates take all federal and provincial taxes and surtaxes into account and the basic personal tax credit. The RRSP contribution limit is $26,500 for 2019. The TFSA contribution limit for 2019 is $6,000. Calculations do not factor in the effect of RRSP withdrawals on Old Age Security and other government benefits and credits that are income tested.
Disclaimer
This calculator is for educational purposes only. All charts and illustrations are for illustrative purposes only and are not intended to illustrate the performance of any security or portfolio. You should not rely on the results as an indication of your financial needs and we recommend that you seek your own financial, investment, tax, legal or accounting advice nor shall the information herein be considered as investment advice or as a recommendation to enter into any transaction. Professional advice should be obtained prior to acting on the basis of this information. The deduction of advisory fees, brokerage or other commissions and any other expenses that would have been paid may not be reflected in the calculation results. ® CI Investments and the CI Investments design are registered trademarks of CI Investments Inc.
Calculations use marginal tax rates as of January 2019. Rates take all federal and provincial taxes and surtaxes into account and the basic personal tax credit. The RRSP contribution limit is $26,500 for 2019. The TFSA contribution limit for 2019 is $6,000. Calculations do not factor in the effect of RRSP withdrawals on Old Age Security and other government benefits and credits that are income tested.
Disclaimer
This calculator is for educational purposes only. All charts and illustrations are for illustrative purposes only and are not intended to illustrate the performance of any security or portfolio. You should not rely on the results as an indication of your financial needs and we recommend that you seek your own financial, investment, tax, legal or accounting advice nor shall the information herein be considered as investment advice or as a recommendation to enter into any transaction. Professional advice should be obtained prior to acting on the basis of this information. The deduction of advisory fees, brokerage or other commissions and any other expenses that would have been paid may not be reflected in the calculation results. ® CI Investments and the CI Investments design are registered trademarks of CI Investments Inc.
TFSA versus RRSP
See how your marginal tax rate affects the growth of your TFSA and RRSP.
| Where do you live? | Alberta |
| Taxable income when you contribute: | $75,000 |
| Taxable income when you withdraw: | |
| Contribution amount: | $2,000 |
| Invest or spend the RRSP refund? | |
| Years of growth: | 25 |
| Rate of return: | 6.00% |
Assumptions
Calculations use marginal tax rates as of January 2019. Rates take all federal and provincial taxes and surtaxes into account and the basic personal tax credit. The RRSP contribution limit is $26,500 for 2019. The TFSA contribution limit for 2019 is $6,000. Calculations do not factor in the effect of RRSP withdrawals on Old Age Security and other government benefits and credits that are income tested.
Disclaimer
This calculator is for educational purposes only. All charts and illustrations are for illustrative purposes only and are not intended to illustrate the performance of any security or portfolio. You should not rely on the results as an indication of your financial needs and we recommend that you seek your own financial, investment, tax, legal or accounting advice nor shall the information herein be considered as investment advice or as a recommendation to enter into any transaction. Professional advice should be obtained prior to acting on the basis of this information. The deduction of advisory fees, brokerage or other commissions and any other expenses that would have been paid may not be reflected in the calculation results.
CI Investments and the CI Investments design are registered trademarks of CI Investments Inc.