Go Figure - Online Financial Planning

TAX FREE SAVINGS ACCOUNT CALCULATOR

This calculator will show you how much more you can save with a TFSA vs. a normal savings account.

	Enter your information;
	Click the 'calculate' button for automatic calculation;
	Make as many changes as you like. You may also print out for a permanent record;
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TAX FREE SAVINGS CALCULATOR

Initial lump sum contribution¹

Periodic contributions¹

Annual rate of return % (e.g. 6.5)

Investment period (yrs.)

Average income tax % rate (e.g. 25)²

Upon maturity, you'll have:

TFSA

Taxable Account

Here's how much more a TFSA is worth vs. a taxable account at maturity*

1	Maximum annual contribution is $5,500 unless you have unused contribution room from previous years. Contributions are assumed deposited at the beginning of each period.
2	Example: at $80,000 taxable income, the average Ont. tax rate is 23%, 22% in B.C.
*	For general illustrative purposes only. We cannot guarantee accuracy and/or applicability to your situation. Contact your Advisor directly for exact amounts, quotes or advice.