The TFSA vs. RRSP Calculator takes your planned TFSA contribution and compares it to a RRSP contribution that has the same after-tax value. For example, an $8,000 RRSP contribution in a 40% tax bracket is equal to a TFSA contribution of $4,800 ($8,000 - $3,200 tax savings). Which strategy works best for you will be determined by the rate of tax on your income in retirement.
The information entered into the calculator will not be transmitted to any person(s) at Raymond James Ltd. nor will it be saved to our servers, to comply with the Personal Information Protection and Electronic Documents Act (PIPEDA). Should you wish to send this information to an advisor, please save or print a copy to PDF.