TFSA vs RRSP                
  The calculator compares a single contribution to a TFSA and an RRSP on an after-tax basis.    
  If the tax rate when you make an RRSP contribution is the same as your tax rate when you make    
  a withdrawal, TFSAs and RRSPs work out to be the same. If your tax rate is lower when you    
  withdraw than when you contribute, the RRSP is the better option. But if your tax rate is higher    
  when you withdraw, then the TFSA will be the better choice.          
                       
  Where do you live?
   
  Taxable income when you contribute     $    
  Taxable income when you withdraw     $    
  Contribution amount     $    
  Invest or spend your RRSP tax refund?      
   
  Years of growth          
  Rate of return       %  
                       
                 
    Contribution         TFSA RRSP    
    Contribution in pre-tax $'s        
           
    Contribution in after-tax $'s        
    Withdrawal                  
           
           
    Net investment value after withdrawal      
[No canvas support]
                       
Assumptions
surtaxes into account and the basic personal tax credit. The calculations do not factor in the effect of RRSP
withdrawals on Old Age Security and other government benefits and credits.
The TFSA contribution limit is $5,500 for 2014. The RRSP contribution limit is $24,270 for 2014.
Disclaimer
This calculator is for illustration purposes only and is not intended to calculate your actual tax liability.
We recommend that you seek out your own legal, accounting, tax or professional advice regarding your
personal tax situation.