Projected TFSA Balance
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Total Contributions
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Tax-Free Growth
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Estimated Tax Saved (vs. taxable)
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TFSA Calculator — Annual TFSA Contribution (C$) ₹1,750
With annual tfsa contribution (c$) of ₹1,750, the projected tfsa balance is CAD67,718.
2025 annual limit is $7,000. Cumulative room since 2009 is $95,000.
Total Contributions
CAD1,40,000
Tax-Free Growth
CAD1,30,871
Projected TFSA Balance
CAD2,70,871
Estimated Tax Saved (vs. taxable)
CAD26,174
TFSA growth and withdrawals are completely tax-free. The 2025 annual limit is $7,000. Cumulative contribution room for someone eligible since 2009 is $95,000. Withdrawals restore contribution room the following calendar year.
What is the TFSA Calculator?
The Tax-Free Savings Account (TFSA) lets Canadians 18+ invest and withdraw money completely tax-free. Unlike an RRSP, contributions are not tax-deductible — but growth, dividends, and withdrawals are never taxed. The 2025 annual contribution limit is $7,000. Cumulative room since the TFSA launched in 2009 totals $95,000 for those eligible every year.
Formula
Final Balance = Existing Balance × (1+r)^n + Monthly Contrib × ((1+r)^n − 1) ÷ r × (1+r), where r = annual return ÷ 12 and n = years × 12.- B_0
- = Current TFSA balance
- C
- = Monthly contribution
- r
- = Monthly return rate
- n
- = Total months
How to use the TFSA Calculator
- 1
Step 1
Enter your planned annual TFSA contribution (up to $7,000 for 2025).
- 2
Step 2
Enter your current TFSA balance (0 if starting fresh).
- 3
Step 3
Set your expected annual investment return.
- 4
Step 4
Enter the number of years to grow.
- 5
Step 5
View your projected tax-free balance.
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Frequently asked questions
What is the TFSA contribution limit for 2025?
The 2025 TFSA annual contribution limit is $7,000. Cumulative room for those eligible since 2009 is $95,000. Unused room from prior years carries forward.
TFSA vs RRSP — which is better?
RRSP is better if you expect your tax rate to be lower in retirement than today (contributions reduce tax now, withdrawals taxed later). TFSA is better if you expect a similar or higher rate in retirement, or need flexibility to withdraw without tax.
Can I withdraw from my TFSA at any time?
Yes. TFSA withdrawals are completely tax-free and can be made at any time. The withdrawn amount is added back to your contribution room on January 1 of the following year.
What happens if I over-contribute to my TFSA?
The CRA charges a 1% per month penalty on any excess TFSA contribution. Always confirm your available room on your CRA My Account before contributing.
Sources
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