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🇨🇦 Canada / Investment
Canadian TFSA, RRSP, RESP, capital gains, and dividend income calculators. TFSA $7,000/year (2024). RRSP max $31,560. CESG 20% on first $2,500.
8 calculators
Calculate capital gains tax on Canadian investments. Apply the 50% inclusion rate for individuals and see federal and provincial tax owing on stocks, mutual funds, and real estate.
Calculate Canada Education Savings Grant for your child's RESP. See the 20% CESG match on contributions up to $2,500 per year and projected RESP growth to post-secondary.
Calculate compound interest growth on Canadian savings and investments. See daily, monthly, and annual compounding effects on GICs, HISAs, and investment accounts.
Calculate after-tax income from Canadian eligible and non-eligible dividends. Apply the dividend tax credit and see provincial tax rates for dividend income in each province.
Calculate the projected value of your child's RESP at post-secondary age. Model annual contributions, the Canada Education Savings Grant, and investment growth over 18 years.
Calculate the return on investment for any Canadian asset or business investment. See ROI as a percentage and annualised return to compare across different investment options.
Project your RRSP balance at retirement based on annual contributions, investment return, and years to retirement. See the tax-sheltered compounding advantage of contributing to your RRSP.
Calculate how your TFSA grows tax-free over time. Model annual contributions up to the cumulative TFSA room and projected growth with no tax on withdrawals or investment income.
The Tax-Free Savings Account (TFSA) is the most flexible tax-advantaged account available to Canadian residents 18 and older. Annual contribution room for 2024 is $7,000, and cumulative room since the TFSA's introduction in 2009 has reached $95,000 for those who have been eligible every year. Unlike an RRSP, TFSA contributions are not tax-deductible, but all growth is completely tax-free and withdrawals are tax-free with no strings attached. Crucially, any amount withdrawn is added back to contribution room in the following calendar year, making the TFSA a permanent tax shelter that grows over a lifetime. Overcontributing to a TFSA attracts a penalty of 1% per month on the excess amount, a common and expensive mistake.
The Registered Retirement Savings Plan (RRSP) allows contributions of 18% of the prior year's earned income, up to $31,560 for the 2024 tax year (2023 earned income). Contributions reduce taxable income in the year made (or carried forward to future years), creating an immediate tax refund worth the contribution multiplied by the marginal rate. A $10,000 contribution for someone in a 43.41% combined federal-provincial bracket (e.g., Ontario above $110,000) generates a $4,341 tax refund. RRSP withdrawals are fully taxable as income; the strategy is to contribute in high-income working years and withdraw in lower-income retirement years. The RRSP must be converted to a Registered Retirement Income Fund (RRIF) or annuity by December 31 of the year the holder turns 71, at which point minimum annual withdrawals are mandatory.
The Registered Education Savings Plan (RESP) attracts the Canada Education Savings Grant (CESG): the federal government contributes 20% on the first $2,500 of annual RESP contributions per beneficiary (a maximum of $500 in CESG per year), with a lifetime CESG limit of $7,200 per beneficiary. Lower-income families may also qualify for the Additional CESG (an extra 10–20% on the first $500) and the Canada Learning Bond (up to $2,000 with no contribution required). Capital gains inclusion rate: for 2024, the federal government proposed (in the April 2024 budget) increasing the inclusion rate from 1/2 to 2/3 for gains above $250,000 annually for individuals and for all capital gains in corporations and trusts, though legislative implementation was still pending at year-end 2024.
Canada's investment account system differs from peer markets in several key respects. The TFSA is more flexible than the UK's ISA (identical tax-free concept but TFSAs restore withdrawn room, ISAs do not), more flexible than Australia's super (locked until preservation age), and unique among major markets in restoring contribution room on withdrawal. Canada's RRSP is conceptually similar to the US Traditional IRA but with higher contribution limits and an 18%-of-income formula rather than a flat dollar limit. The RESP with government CESG matching has no direct equivalent in the US, UK, or Australia. The closest is the UK Junior ISA, which offers no government matching beyond the Child Trust Fund (now closed). Canada's proposed 2/3 capital gains inclusion rate (for gains over $250,000) would make it one of the higher CGT jurisdictions among peer nations if enacted.