Tax Free Savings Account (TFSA) Comparison (Canadian)
How taxes are applied to an investment can make an incredible difference. Starting in 2009 all Canadians 18 and older have a new option to save where all earnings and withdrawals are tax free. As of January 2013 you are able to contribute up to $5,500 per year to a Tax Free Savings Account (TFSA) and make tax free withdrawals at any time for any purpose. This calculator is designed to help compare a normal taxable investment to a TFSA and a RRSP.