TFSA compound growth calculator
Calculate tax-free TFSA compound growth with the $7,000 annual limit and compare vs a taxable investment account. Free.
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About this tool
Project long-term tax-free investment growth in your Tax-Free Savings Account (TFSA) and see the exact tax savings compared to a taxable account.
How to use it
- 1 Enter your starting TFSA balance and planned annual contribution (up to $7,000/yr).
- 2 Select your investment time horizon in years and expected annual rate of return.
- 3 Compare your final tax-free balance against a regular taxable portfolio.
Questions
How much can I contribute to a TFSA each year?
The annual TFSA dollar limit is indexed to inflation in $500 increments ($7,000 for 2024). Any unused room rolls over indefinitely.
What is the 2024 TFSA contribution limit?
The annual TFSA contribution limit is $7,000. Cumulative lifetime contribution room for eligible Canadian residents who turned 18 before 2009 is $95,000.
Are TFSA withdrawals taxable?
No. All interest, dividends, capital gains, and withdrawals in a TFSA are 100% tax-free. Withdrawn amounts are re-added to your contribution room on January 1 of the following year.
Is my data uploaded?
No. This tool runs in your browser, so your text and files never reach our server.
Is this tool free?
Yes. It’s free to use with no sign-up and no limits for normal use.
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