RRSP / TFSA Impact

The RRSP/TFSA Impact Calculator compares Canada's two primary tax-advantaged savings vehicles: the Registered Retirement Savings Plan (RRSP, tax-deferred) and the Tax-Free Savings Account (TFSA, tax-free growth). Each has distinct contribution rules, tax treatment, and optimal use cases. Enter your current income, marginal tax rate, expected retirement tax rate, annual contribution, and investment return. The dual-line chart shows the after-tax value of each account over time, with RRSP values discounted for the eventual tax on withdrawal. RRSP contributions give you an immediate tax deduction but are taxed on withdrawal in retirement. TFSA contributions are after-tax but all growth and withdrawals are completely tax-free. The optimal strategy depends on your current versus expected retirement marginal tax rate — this calculator reveals which wins for your specific situation.