UpFront Wealth
2024 Tax Year

RRSP vs TFSA Calculator

Which account will leave you with more money? Compare tax refunds, growth, and after-tax withdrawals side by side.

2024 RRSP Limit

$31,560

Or 18% of your 2023 earned income, whichever is less

2024 TFSA Limit

$7,000/yr

Cumulative room since 2009: up to $95,000

Your Details

$
$

Est. RRSP room: $11,700 · TFSA annual: $7,000

%

Historical Canadian balanced portfolio: 5–7%

$

CPP, OAS, pension, part-time — used to estimate RRSP withdrawal tax

Your Marginal Tax Rates (Federal + Provincial)

Current marginal rate

29.6%

RRSP saves $2,076 in taxes on a $7,000 contribution

Retirement marginal rate

20.1%

Based on $40,000 other income