General information only — not financial advice for your situation.
This is a learning tool. Always check CRA My Account records and talk to a qualified professional for your own numbers.
RRSP, TFSA, and FHSA side by side
Shows what each account type does with the same contribution. Does not choose one for you.
$1,500
Tax refund estimate. Taxed on withdrawal.
Tax-free
No deduction. Growth and withdrawals are tax-free.
$1,500
Tax benefit if eligible. Qualifying withdrawal tax-free.
Plain English
This calculator shows an estimate from the assumptions shown in the box above.
Show the math
The calculator uses the shared data files where tax constants are needed, and user-entered rates where the missing rule depends on your situation.
Worked examples
| Input | Output |
|---|---|
| $8,000 at 30% marginal rate | RRSP: $2,400 refund (taxed later) · TFSA: $0 refund, tax-free growth · FHSA: $2,400 refund + tax-free growth |
| $8,000 at 50% marginal rate | RRSP & FHSA: $4,000 refund each · TFSA: no upfront relief but permanent shelter |
| $8,000 at 20% marginal rate | TFSA dominates RRSP (avoids future tax risk) · FHSA still wins if buying property soon |
What this does not account for
Credits, deductions, residency gaps, and account history that are not entered here.
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About this site
Every number on this site is sourced from CRA publications, the Income Tax Act, or provincial fiscal releases. We show the math, cite the sources, and never tell you what to do with your money.