See the potential of tax-free investing. Use our calculator to visualize how your money grows faster without tax holding it back
The calculator is just the start. Our advisors can help you build a tax-smart strategy that makes the most of your TFSA's benefits.
Our TFSA Savings Calculator provides personalized projections to help you understand the potential growth of your Tax-Free Savings Account compared to a taxable account. The calculator takes into account your existing TFSA balance, contribution plans, and expected investment returns to estimate your future tax-free savings. This tool uses the federal and provincial tax rates for 2024 as provided by the Canada Revenue Agency.
These simplified assumptions allow us to generate clear estimates of your TFSA's potential growth. However, we recommend reviewing the results with a financial advisor, who can provide personalized guidance on how to optimize your TFSA strategy based on your unique financial circumstances and investment goals.
Our calculator provides personalized insights to help you maximize your tax-free savings potential. Enter a few simple inputs, and the calculator will estimate:
By using our TFSA Savings Calculator, you'll gain a clearer understanding of how to optimize your tax-free savings strategy and make informed decisions about your TFSA contributions and investments. Get started today to see how you can maximize the benefits of this powerful savings vehicle.
This TFSA savings calculator is for informational purposes only and does not constitute personalized financial advice. Results are based on the information you provide and certain assumptions. The annual rate of return you enter may differ from actual investment returns. This calculator assumes a constant annualized return, without regard to compounding frequency. Actual returns, total annual income, marginal tax rate, and other factors may vary. The calculation assumes that both accounts earn income, which is compounded annually. It also assumes that tax is deducted annually from the taxable account at the 2024 marginal tax rate, that contributions are made at the start of each contribution period, and that calculations are based on a 52-week year.
To estimate income from non-registered investments, the calculator applies an assumed tax rate based on the user’s marginal tax rate for ordinary income as determined by their gross income and province or territory. The actual after-tax income from non-registered investments may vary from the projected values if investments generate capital gains or dividends instead of ordinary income, or if the amount of investment income exceeds the difference between gross income and the upper limit of the marginal tax bracket.
This calculator is designed to provide general guidance, and its results should not be relied upon as the sole basis for making investment or retirement decisions. Past performance does not guarantee future returns, and projected outcomes may differ based on various uncontrollable factors. Matco Financial Inc. does not guarantee the accuracy or completeness of the calculator’s results and will not be liable for any actions taken based solely on the information provided.