Starting Balance

      The current amount in any existing TFSAs.

      Contribution Amount

      The amount of the routine investment into the TFSA. TFSA contribution room accumulates every year you are 18 or older and a resident of Canada at any time during the year

      Contribution Frequency

      The frequency of contributions to the TFSA: weekly, bi-weekly, semi-monthly, monthly or yearly.

      No. of Contribution Years

      The number of years that investments will be made to the TFSA.

      Annual Rate of Return

      The annual interest rate you expect to receive from your TFSA investment. %

      Annual Income

      Your personal income before taxes and/or other deductions.
      Tax-free Investment Savings:

      This TFSA calculator assumes the following:

      1. The annual income you provide is used as a basis for estimating the income tax rate, with no additional earnings or deductions.
      2. Actual tax savings may vary depending on your personal situation.
      3. All contributions are assumed to be made at the beginning of period.
      4. No withdrawals are made from the account during the relevant period.