Calculator

RRSP vs TFSA room (illustrative)

Educational estimates using published CRA-style limits. Not tax advice.

Last year's earned incomeAgeRRSP room already carried inUnused room from earlier years. Leave blank if you are only estimating this year's new room.Pension adjustmentFrom a T4, if you have one. Leave blank if none.Already contributed to a TFSASubtracted from room accumulated since the year you turned 18.

RRSP room in this illustration

$14,400

18% of last year's earned income, up to $32,490, plus room carried in, minus the pension adjustment.

TFSA room still unused

$94,000

Accumulated from the year you turned 18, minus what you have already contributed. This year's TFSA limit in the illustration is $7,000.

Same dollars, different tax

Optional. A pre-tax amount, the bracket this year, and a later withdrawal bracket.

Pre-tax amountCombined bracket this year (%)Combined bracket at withdrawal (%)

Confirm both room figures in CRA My Account. This does not pick an account.

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