🇨🇦 RRSP vs TFSA vs FHSA Comparison Calculator
Compare RRSP, TFSA, and FHSA accounts side by side to find the best fit for your savings goals. This calculator models tax-deferred, tax-free, and hybrid growth over your chosen time horizon.
Contexte de la Regle Regionale
Canada Taux et Regles
Entrez les valeurs
Amount you plan to invest each year
Number of years you plan to contribute
Average annual investment return
Your current combined federal and provincial marginal rate
Your expected marginal tax rate in retirement
Resultat
Entrez les valeurs ci-dessus et cliquez sur Calculer pour voir votre resultat.
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Avis : Avis : Ce calculateur utilise les regles publiques en vigueur a la date indiquee. Les resultats sont a titre informatif uniquement. Verifiez aupres des sources officielles. Derniere verification: 1 mars 2026.
Formule
RRSP contributions are tax-deductible but withdrawals are taxed at your retirement rate. TFSA contributions use after-tax dollars but grow and withdraw tax-free. FHSA combines both: contributions are deductible and qualified withdrawals for a first home are tax-free.
Questions Frequentes
Which is better, RRSP or TFSA?
RRSP is better if your current marginal tax rate is higher than your expected retirement rate (you get a bigger deduction now than the tax you pay later). TFSA is better if your rate will be the same or higher in retirement. For most middle-income earners, RRSP has a slight edge. For lower-income earners, TFSA is usually better.
When should I use an FHSA instead?
If you are a first-time home buyer, FHSA is the best option for home savings because it combines RRSP benefits (tax deduction) with TFSA benefits (tax-free withdrawal). You get the deduction when you contribute and pay zero tax when you withdraw for a home. FHSA is strictly better than both RRSP and TFSA for this specific goal.
What are the contribution limits for each account?
RRSP: 18% of previous year earned income up to $32,490 for 2025, with unused room carrying forward indefinitely. TFSA: $7,000 per year for 2024-2025 ($102,000 cumulative from 2009). FHSA: $8,000 per year, $40,000 lifetime, with $8,000 carry-forward.
Can I contribute to all three accounts?
Yes. RRSP, TFSA, and FHSA have separate contribution limits. If you have the cash flow, maximizing all three provides the best tax-sheltered growth. Priority order for most first-time buyers: FHSA first, then TFSA, then RRSP.
What happens to FHSA if I never buy a home?
You can transfer the balance to your RRSP or RRIF without affecting your RRSP contribution room. This effectively converts your FHSA into RRSP savings. Alternatively, you can withdraw the funds but they will be fully taxable, similar to an RRSP withdrawal.
How does this calculator model the comparison?
It projects each account over your specified time horizon using the same contribution amount and expected return. For RRSP, it models the tax deduction now and tax on withdrawal at your retirement rate. For TFSA, no deduction and no withdrawal tax. For FHSA, deduction now and no withdrawal tax. The after-tax future value shows the true comparison.
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