TFSA Calculator
Find your 2026 contribution room, then project how much your TFSA can grow tax-free. Updates instantly as you type.
Your TFSA contribution room
Room accumulates from the year you turned 18, or 2009, whichever is later.
Room from 2025 withdrawals returns Jan 1, 2026
Project your tax-free growth
See how a TFSA compounds tax-free versus the same money in a taxable account.
Applied to the taxable account for comparison
TFSA balance (tax-free)
$305,020
Taxable account
$244,534
Tax-free advantage
$60,486
Total contributed
$150,000
| Year | Contributed | TFSA | Taxable |
|---|---|---|---|
| 1 | $17,000 | $18,020 | $17,714 |
| 2 | $24,000 | $26,521 | $25,752 |
| 3 | $31,000 | $35,532 | $34,128 |
| 4 | $38,000 | $45,084 | $42,855 |
| 5 | $45,000 | $55,209 | $51,949 |
| 6 | $52,000 | $65,942 | $61,425 |
| 7 | $59,000 | $77,319 | $71,299 |
| 8 | $66,000 | $89,378 | $81,587 |
| 9 | $73,000 | $102,160 | $92,308 |
| 10 | $80,000 | $115,710 | $103,479 |
| 11 | $87,000 | $130,073 | $115,119 |
| 12 | $94,000 | $145,297 | $127,248 |
| 13 | $101,000 | $161,435 | $139,886 |
| 14 | $108,000 | $178,541 | $153,055 |
| 15 | $115,000 | $196,673 | $166,778 |
| 16 | $122,000 | $215,894 | $181,076 |
| 17 | $129,000 | $236,267 | $195,976 |
| 18 | $136,000 | $257,863 | $211,501 |
| 19 | $143,000 | $280,755 | $227,678 |
| 20 | $150,000 | $305,020 | $244,534 |
Over 20 years, a TFSA leaves you about $60,486 ahead of a taxable account at a 30% marginal rate, because none of the growth is taxed.
How TFSA contribution room works
Your room accumulates from the year you turned 18 (or 2009, whichever is later). Each year adds a new annual limit ($7,000 for 2026), unused room carries forward indefinitely, and withdrawals return as new room on January 1 of the following year. Contributing more than your room triggers a 1% per month CRA penalty on the excess.
Why tax-free growth compounds faster
In a TFSA, no tax is charged on interest, dividends, or capital gains, so your full balance keeps compounding. In a taxable account, tax is taken each year, leaving less to grow. A $10,000 start plus $7,000 a year at 6% over 20 years reaches about $305,020 in a TFSA, roughly $60,486 ahead of the same plan in a taxable account at a 30% rate. The longer the horizon and the higher the return, the larger the tax-free advantage.
TFSA versus a taxable account
The comparison uses a single marginal tax rate applied to the taxable account’s growth each year. It does not model dividend tax credits or the 50% capital-gains inclusion, so it is a simple, conservative illustration of the shelter’s value, not a precise after-tax forecast.
Frequently asked questions
How is my TFSA contribution room calculated?
Your room is the sum of every annual limit from the year you turned 18 (or 2009, whichever is later) through 2026, minus your total contributions, plus any withdrawals from a prior calendar year. Someone eligible since 2009 who has never contributed has $109,000 of room in 2026.How much can a TFSA grow tax-free?
Every dollar of growth inside a TFSA is completely tax-free. For example, $10,000 plus $7,000 a year at a 6% return over 20 years grows to about $305,020, roughly $60,486 more than the same money in a taxable account taxed at a 30% marginal rate. Your own figures depend on your return, contributions, and time horizon.Why compare a TFSA to a taxable account?
In a taxable (non-registered) account, interest, dividends, and realized gains are taxed every year, which drags down compounding. The calculator applies your marginal rate to the taxable account each year so you can see the dollar value of the TFSA shelter over time.What is the TFSA limit for 2026?
The 2026 annual TFSA contribution limit is $7,000, unchanged from 2024 and 2025. New room is added every January 1, and unused room carries forward indefinitely.
Planning contributions? Read the full 2026 TFSA strategy guide →
Estimates based on 2026 CRA-published limits. Growth projections are illustrative and assume a constant return. Not tax or investment advice. Consult a professional before making financial decisions.