TFSA Calculator
Project Tax-Free Savings Account growth with annual contributions and compound returns.
Inputs
2024 TFSA contribution limit is $7,000; unused room accumulates.
Result
Future TFSA Value
CA$289,570.49
after 20 years — fully tax-free
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Formula
Future Value = PV × (1 + r)^n + PMT × ((1 + r)^n − 1) / r where PV is the current balance, PMT the annual contribution, r the annual return rate, and n the number of years.
How it works
A Tax-Free Savings Account (TFSA) is a Canadian registered account where investment income and withdrawals are completely tax-free. This calculator projects TFSA growth from a starting balance and regular annual contributions.
Example
Example: Starting balance $10,000, $7,000/yr contributions at 6% for 20 years → roughly $289,500 — all tax-free. Total contributed: $150,000; tax-free growth: ~$139,500.