TFSA Calculator — Grow Your Savings Completely Tax-Free
Calculate TFSA contribution room and investment growth for Canadians. See how tax-free compounding builds wealth faster than taxable accounts.
The Tax-Free Savings Account is one of Canada best financial tools. All investment growth within a TFSA whether interest dividends or capital gains is completely and permanently tax-free even on withdrawal. The cumulative contribution room for someone who has been eligible since 2009 is $102000 as of 2026. Unlike RRSP withdrawals TFSA withdrawals do not count as income and do not affect government benefits like OAS or GIS.
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Key Information
| Parameter | Details |
|---|---|
| 2026 Annual Limit | $7,000 |
| Cumulative Room (since 2009) | $102,000 |
| Tax on Growth | 0% (completely tax-free) |
| Tax on Withdrawal | 0% (does not count as income) |
Calculate your TFSA growth
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Use Calculator NowFrequently Asked Questions
How much can I put in TFSA total?
If you were 18 or older in 2009 and have been a Canadian resident since your total contribution room is $102000 as of 2026. The annual limit has varied from $5000 to $10000 over the years with the 2026 limit at $7000. Unused room carries forward indefinitely. Check your exact room on your CRA My Account online.
TFSA vs savings account which is better?
A regular savings account earning 4% on $50000 generates $2000 in interest which is fully taxable. At a 30% marginal rate you keep only $1400. The same money in a TFSA earning 4% gives you the full $2000 tax-free. Over 20 years this tax savings compounds to tens of thousands of dollars in extra wealth.
Can I use TFSA for investing in stocks?
Yes a TFSA can hold much more than just savings accounts. You can invest in stocks ETFs mutual funds bonds and GICs within a TFSA. All gains are tax-free making it ideal for growth investments. A TFSA holding a Canadian index ETF earning 8% grows much faster tax-free than the same investment in a taxable account.
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Last updated: 24 March 2026