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 |
Planning for retirement?
See your full retirement income — CPP, OAS, RRIF & TFSA →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 Withdrawals are tax-free and the withdrawn amount is added back to your room the following year.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.
Related savings tools
Sources
Last updated April 2026. Reflects 2026 tax year rates.
Related Calculators
RRSP tax savings
Tax savings from an RRSP contribution at your marginal rate
RRSP vs TFSA decision
Side-by-side projection with refund-reinvest math and break-even insight
Retirement projection
Project your RRSP, TFSA and FHSA to retirement
OAS + GIS combined
Estimate your OAS, GIS and Allowance entitlement