§ Calculator · Investment

Taxable vs tax-advantaged

What this is

TFSA grows tax-free. Non-registered grows then gets clipped on capital gains.

Same contribution, same return, same horizon. TFSA wins because no tax on growth + withdrawal. Non-registered owes 50%-inclusion capital gains at withdrawal. Difference compounds dramatically over long horizons.

Annual contribution (CAD)Expected return

YearsMarginal tax rate

TFSA after years

$472,542

Non-registered after tax

$408,184

TFSA advantage

$64,358

For deeper RRSP-vs-TFSA-vs-FHSA decisions (which depend on your marginal rate now vs at retirement), see the RRSP vs TFSA calculator.

Disclaimer

Educational, not financial advice. Output is generated by an AI assistant using simplified assumptions. Tax rates, contribution limits, and benefit amounts change annually; confirm with a CFP, CPA, or the relevant Canadian regulator (CRA, FSRA, OSC, IIROC) before acting.