TFSA Calculator
A Tax-Free Savings Account (TFSA) lets Canadians earn tax-free investment growth and make tax-free withdrawals. For 2026, the annual TFSA contribution limit is $7,000. Unused contribution room carries forward indefinitely. Use this calculator to project your TFSA growth and see the advantage over a taxable account.
How the TFSA works
The TFSA was introduced in 2009 with a $5,000 limit, indexed to inflation in $500 increments. Contributions are made with after-tax dollars, but all investment income (interest, dividends, capital gains) grows tax-free. Withdrawals are also tax-free and add to your contribution room the following year. Unlike an RRSP, TFSA contributions are not tax-deductible, making the TFSA ideal for short-to-medium-term savings goals and tax-efficient investing. The cumulative contribution room since 2009 is approximately $102,000 (as of 2026, for someone 18+ since 2009).
TFSA Calculator 2026 — Tax-Free Savings Account Growth
Free TFSA (Tax-Free Savings Account) calculator for Canada. Calculate contribution room, tax-free growth, and compare to taxable investing. Updated for 2026 contribution limits.
TFSA vs Taxable Account Growth
TFSA Summary
By year 10, your TFSA has grown to $85,266 — that's -$1,651 more than a taxable account at the same return rate.
Year-by-Year Breakdown
| Year | TFSA Value | Taxable Value | Total Contributions |
|---|---|---|---|
| 1 | $0 | $7,273 | $0 |
| 2 | $7,420 | $14,830 | $7,000 |
| 3 | $15,285 | $22,681 | $14,000 |
| 4 | $23,622 | $30,839 | $21,000 |
| 5 | $32,460 | $39,314 | $28,000 |
| 6 | $41,827 | $48,121 | $35,000 |
| 7 | $51,757 | $57,270 | $42,000 |
| 8 | $62,282 | $66,777 | $49,000 |
| 9 | $73,439 | $76,654 | $56,000 |
| 10 | $85,266 | $86,917 | $63,000 |