RRSP or TFSA —
which one wins for you.
Model the true after-tax outcome 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 — nothing is sent anywhere.
Your Scenario
Auto-calculate from income & province
Uses official 2026 CRA and provincial brackets (T4127), so this updates whenever you re-check it after a bracket change. Rates do shift over time — the lowest federal rate was just cut from 15% to 14% for 2026 and a couple of provinces adjusted their own brackets too — so no calculator can know future legislated rates. Today's law is used as the most defensible stand-in for retirement-year tax; nudge the sliders below by hand if you expect a different regime.
Reinvest the RRSP tax refund
If off, the refund is assumed spent — the classic RRSP-vs-TFSA trap.
Show values in today's dollars
Discounts results for inflation.
Calculating…
$0
$0
After-tax value if withdrawn each year
2026 Contribution Room Check
TFSA room
RRSP room
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.
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.
How does WealthLyra preserve client-side privacy?
All mathematical algorithms execute directly within your browser JavaScript session. No income figures, tax rates, or contribution amounts are ever submitted to an external server or saved to third-party tracking databases.