TFSA vs RRSP Calculator

TFSA versus RRSP

Weigh the benefits of investing in a TFSA versus an RRSP.

Where do you live?

Alberta

Taxable income when you contribute (maximum value $1,000,000)

100,000

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.

Taxable income when you withdraw (maximum value $1,000,000)

50,000

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.

Contribution amount (maximum value $50,000)

10,000

Contribution amount
The maximum annual contribution limit for TFSAs in is $ and $ for RRSPs.

Invest or spend the RRSP refund?

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.

Years of growth (maximum 50 years)

Rate of return (maximum value 16%)

6.00%

Input Error: Rate of return
Enter a value between and %.

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

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Assumptions
Calculations use marginal tax rates as of . Rates take all federal and provincial taxes and surtaxes into account and the basic personal tax credit. The RRSP contribution limit is $ for . The TFSA contribution limit for is $. 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

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%