Family / Budgeting
Tax Free Savings Account vs. Regular Unregistered Savings
This calculator will help you compare how your savings would grow if you invested them in a Tax Free Savings Account (TFSA) compared to a Regular Unregistered Savings Account. The calculator lets you specify how you would invest the assets (e.g. in a bank account, in an investment account, etc.). Based on that information, the calculator then applies the appropriate tax rates according to the type of investment income you would be expected to earn.
The final result of the calculator is a comparison of accumulated assets in a TFSA compared to a regular savings account so you can see what difference a TFSA would make to your circumstances.
Tax Free Savings Account vs. Regular Savings
Number of Years:
Expected Annual Return:
Information To Help Estimate Applicable Tax Rates
Prince Edward Island
Your Overall Income:
Planned Investment Mix:
Bank Accounts, GICs, Money Market, Bonds:
Lower Risk (Blue Chip) Stocks:
Assumptions behind this Calculator
TFSA: Stop Paying Taxes on Investments
Retirement Calculator: now with TFSA
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