RRSP vs. TFSA calculator —
compare your after-tax savings.
Compare projected after-tax outcomes of both accounts using your own marginal tax rate today, your expected rate in retirement, and whether you reinvest the RRSP refund. Every figure is computed in your browser — your financial inputs aren’t sent to our servers or external APIs.
Your Scenario
Auto-calculate from income & province
Uses a dated 2026 CRA and provincial-bracket planning version (2026 rules). Tax rules and retirement-year rates can change, and this marginal-rate display does not calculate a complete return. Adjust the sliders if your circumstances or expected future tax regime differ.
Optional tax-rate overrides
Reinvest the RRSP tax refund
If on, the refund is assumed invested in a separate TFSA-like, tax-free side account. The model does not tax that growth or recursively contribute additional refunds.
Show values in today's dollars
Discounts results for inflation.
Calculating…
$0
$0
After-tax value if withdrawn each year
Estimate contribution room separately
2026 Simplified Contribution-Room Estimate
TFSA room
RRSP room
Confirm your actual TFSA and RRSP deduction limits on your CRA notice of assessment or CRA account before contributing. Transfers, current-year withdrawals, penalties, and CRA adjustments are not fully modelled here.
Frequently Asked Questions on RRSP vs TFSA Planning
Why does reinvesting the RRSP refund matter so much?
A dollar contributed to an RRSP and a dollar contributed to a TFSA only produce the same after-tax result if your RRSP tax refund is reinvested and your tax rate is unchanged between now and withdrawal. Spend the refund instead, and the RRSP is carrying a future tax bill the TFSA never will — which is why this calculator treats the refund as a separate, optional lever held in a tax-free side account.
When does the RRSP come out ahead?
Broadly, when your marginal tax rate today is higher than the rate you expect to pay when you withdraw — for example, a peak working-income year versus a lower-income retirement. When the two rates are equal, the accounts tie exactly (assuming the refund is reinvested). When your rate in retirement will be higher, the TFSA tends to win.
What does this calculator not account for?
It models pure after-tax investment value only. It does not model OAS clawback thresholds, RRIF minimum withdrawal schedules, probate and estate treatment, creditor protection differences, or provincial credit interactions — all of which can tilt a real decision. Treat this as a starting point for the tax math, not a complete financial plan.
Do I need to sign up, and are my inputs uploaded?
No signup or bank connection is required. Calculations run in your browser without external API calls. We don’t upload or save your financial inputs. Browser preferences and hosting request data are explained in our privacy policy.
Sources and scope
2026 rules · tax year 2026 · effective January 1, 2026 · next review Q4 2026 · reviewer: WealthLyra editorial review. This calculator illustrates simplified tax assumptions and does not replace your CRA notice of assessment or professional tax advice. Contribution room and tax rules can change, so verify your available room before contributing.
How to use this rrsp vs tfsa calculator
Enter the same contribution amount for each account, a time horizon, growth assumption and current and retirement tax rates. Compare after-tax balances, including the optional invested RRSP refund. The room estimators are separate planning aids; verify your actual contribution room and do not treat the projection as a complete retirement tax return.
Amounts are in Canadian dollars. Read the calculation methods, sources and review status.