TFSA Calculator
Calculate your cumulative TFSA contribution room, project your account growth over time, and see how much tax you save by investing in a TFSA versus a taxable account.
TFSA Details
TFSA Summary
Year-by-Year Projection
| Year | Start Balance | Contribution | Growth | End Balance |
|---|---|---|---|---|
| 2026 | $0 | $7,000 | $420 | $7,420 |
| 2027 | $7,420 | $7,000 | $865 | $15,285 |
| 2028 | $15,285 | $7,000 | $1,337 | $23,622 |
| 2029 | $23,622 | $7,000 | $1,837 | $32,460 |
| 2030 | $32,460 | $7,000 | $2,368 | $41,827 |
| 2031 | $41,827 | $7,000 | $2,930 | $51,757 |
| 2032 | $51,757 | $7,000 | $3,525 | $62,282 |
| 2033 | $62,282 | $7,000 | $4,157 | $73,439 |
| 2034 | $73,439 | $7,000 | $4,826 | $85,266 |
| 2035 | $85,266 | $7,000 | $5,536 | $97,801 |
| 2036 | $97,801 | $7,000 | $6,288 | $111,090 |
| 2037 | $111,090 | $7,000 | $7,085 | $125,175 |
| 2038 | $125,175 | $7,000 | $7,931 | $140,105 |
| 2039 | $140,105 | $7,000 | $8,826 | $155,932 |
| 2040 | $155,932 | $7,000 | $9,776 | $172,708 |
| 2041 | $172,708 | $7,000 | $10,782 | $190,490 |
| 2042 | $190,490 | $7,000 | $11,849 | $209,340 |
| 2043 | $209,340 | $7,000 | $12,980 | $229,320 |
| 2044 | $229,320 | $7,000 | $14,179 | $250,499 |
| 2045 | $250,499 | $7,000 | $15,450 | $272,949 |
How it works: The Tax-Free Savings Account (TFSA) allows Canadian residents aged 18+ to earn investment income tax-free. Contribution room accumulates annually and unused room carries forward. Withdrawals are tax-free and the withdrawn amount is added back to your room the following year. The tax-free benefit shown is the estimated tax you would have paid on investment growth in a regular taxable account.
TFSA in Canada
The Tax-Free Savings Account (TFSA) was introduced in 2009 for Canadian residents aged 18 and older. All investment income earned inside a TFSA — including interest, dividends, and capital gains — is completely tax-free.
Contribution room: Room accumulates each year based on the annual limit set by the CRA. The 2025 limit is $7,000. Unused room carries forward indefinitely. When you withdraw from a TFSA, that amount is added back to your room the following year.
Over-contributions: Contributing more than your available room results in a penalty tax of 1% per month on the excess amount. This calculator helps you track your room to avoid over-contributions.