Example2026 TFSA limit $7,000 · RRSP 18% of prior income · FHSA $8,000/yr - edit for your room and timeline
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The TFSA / RRSP / FHSA calculator models long-term growth across Canada's three main registered accounts and shows which produces the largest after-tax balance based on your income, goals, and expected retirement tax bracket. All three shelter growth from tax; the difference is when and whether you pay tax on contributions and withdrawals.
TFSA contributions are after-tax; growth and withdrawals are tax-free. RRSP contributions are deductible; growth is deferred; withdrawals are fully taxable. FHSA contributions are deductible (like RRSP) but qualifying first-home withdrawals are tax-free (like TFSA). The calculator applies your marginal tax rate both today and in retirement, compounds growth at your chosen return, and reports after-tax ending balances.
2026 limits: TFSA $7,000/year ($102,000 cumulative since 2009), RRSP 18% of earned income to $33,810 max, FHSA $8,000/year and $40,000 lifetime. FHSA can be stacked with RRSP HBP for up to $100,000 tax-advantaged per person toward a first home.
The 2026 TFSA annual contribution limit is $7,000, the same as 2024 and 2025. The cumulative lifetime limit for someone who has been 18+ and a Canadian resident since 2009 is $102,000 by 2026. Withdrawals from a TFSA restore the contribution room in the following calendar year.
RRSPs are generally better if your income (and marginal tax rate) is higher now than it will be in retirement, since contributions reduce today's taxable income. TFSAs are better if your retirement income will be similar or higher, or if you may need flexible access. Many Canadians benefit from using both.
The First Home Savings Account (FHSA) is for first-time home buyers who are Canadian residents aged 18–71. It allows $8,000/year in tax-deductible contributions (lifetime maximum $40,000) and tax-free withdrawals when buying a qualifying first home. Unused FHSA funds can be transferred to an RRSP.
Long-form explainers that pair with this calculator.