How we calculate
Every calculator on the site runs in your browser on one engine and one parameter file. Each rule and amount in it carries the link to the official text it comes from and the date it was read (October 19, 2026 for this edition). Nothing you type leaves your browser. This page sets out the data, the formulas, the checks and what is deliberately left out.
TFSA room
Your first year of room is the latest of three: 2009, the year you turned 18, the year you became a resident of Canada. For each year from then to 2026, the calculator adds the limit published in the table of limits on canada.ca, with no proration, then removes the limits of any full calendar years of non-residence you enter (the most recent ones before 2026, by convention). It subtracts your contributions and adds back your withdrawals from earlier years, as set out in the Canada Revenue Agency TFSA pages. Withdrawals made in 2026 only come back on January 1, 2027. A negative balance is an excess, taxed at 1% a month.
Example: someone born in 1998 who arrived in 2019, contributed $20,000 and withdrew $5,000 before 2026, then contributed $3,000 this year, has $51,500 of accumulated limits, $36,500 of room on January 1 and $33,500 available today.
RRSP
New room for a year is 18% of the previous year's earned income, up to the dollar limit ($33,810 in 2026, $35,390 in 2027), minus the pension adjustment. The calculator adds the unused room you enter. It does not compute the pension adjustment reversal or the past service pension adjustment, which appear on your notice of assessment. The $2,000 cushion and the 1% monthly tax on the part above it follow the agency's page on excess contributions. Withholding on a withdrawal uses the 10, 20 and 30% rates (5, 10 and 15% federal in Quebec) by withdrawal amount.
FHSA, HBP and LLP
FHSA room starts in the year you open your first account: $8,000 in the first year, then $8,000 plus the previous year's unused part, capped at $8,000, within the $40,000 lifetime limit. Taxable withdrawals and designated transfers are not handled. The HBP applies the $60,000 limit, repayment over 15 years and the start deferred to the fifth year for a first withdrawal from 2022 to 2028. The LLP applies $10,000 a year, $20,000 in total and repayment over 10 years.
2026 income tax
Federal tax uses the brackets on the 2026 rates page and a 14% credit on the basic personal amount, reduced from $16,452 to $14,829 between $181,440 and $258,482 of income. For a Quebec resident, basic federal tax is reduced by 16.5% (Quebec abatement, July 2026 T4127). Provincial tax applies each jurisdiction's brackets and a credit at its lowest rate, the Ontario surtax and Manitoba's reduction of the basic amount. The marginal rate shown is the extra tax on the next $100; the saving from a deduction is tax before minus tax after.
| Jurisdiction | Rates | Bracket thresholds | Basic amount |
|---|---|---|---|
| Quebec | 14% · 19% · 24% · 25.75% | $54,345 · $108,680 · $132,245 | $18,952 |
| Ontario | 5.05% · 9.15% · 11.16% · 12.16% · 13.16% | $53,891 · $107,785 · $150,000 · $220,000 | $12,989 |
| British Columbia | 5.6% · 7.7% · 10.5% · 12.29% · 14.7% · 16.8% · 20.5% | $50,363 · $100,728 · $115,648 · $140,430 · $190,405 · $265,545 | $13,216 |
| Alberta | 8% · 10% · 12% · 13% · 14% · 15% | $61,200 · $154,259 · $185,111 · $246,813 · $370,220 | $22,769 |
| Manitoba | 10.8% · 12.75% · 17.4% | $47,000 · $100,000 | $15,780 |
| Saskatchewan | 10.5% · 12.5% · 14.5% | $54,532 · $155,805 | $20,381 |
| Nova Scotia | 8.79% · 14.95% · 16.67% · 17.5% · 21% | $30,995 · $61,991 · $97,417 · $157,124 | $11,932 |
| New Brunswick | 9.4% · 14% · 16% · 19.5% | $52,333 · $104,666 · $193,861 | $13,664 |
| Newfoundland and Labrador | 8.7% · 14.5% · 15.8% · 17.8% · 19.8% · 20.8% · 21.3% · 21.8% | $44,678 · $89,354 · $159,528 · $223,340 · $285,319 · $570,638 · $1,141,275 | $13,094 |
| Prince Edward Island | 9.5% · 13.47% · 16.6% · 17.62% · 19% · 20% | $33,928 · $65,820 · $106,890 · $142,520 · $200,000 | $15,000 |
| Yukon | 6.4% · 9% · 10.9% · 12.8% · 15% | $58,523 · $117,045 · $181,440 · $500,000 | same as federal |
| Northwest Territories | 5.9% · 8.6% · 12.2% · 14.05% | $53,003 · $106,009 · $172,346 | $18,198 |
| Nunavut | 4% · 7% · 9% · 11.5% | $55,801 · $111,602 · $181,439 | $19,659 |
Two points still to confirm
Quebec: the rates and bracket thresholds were re-read on the Revenu Québec income tax rates page, and the basic personal amount of $18,952 on Revenu Québec's main changes for 2026.
Manitoba: the canada.ca rates page shows indexed thresholds, while the T4127 guide and the Manitoba government state that brackets have not been indexed since 2025. The site uses the unindexed thresholds of $47,000 and $100,000.
RRSP vs TFSA
The calculator compares equal effort. You enter what you can save out of pocket; in the TFSA, that amount is invested as is. In the RRSP, the contribution is the amount that costs the same once the refund arrives: it is grossed up by iteration until contribution minus tax saved equals your saving. Both accounts grow at the same real return. The RRSP is then drawn in equal parts over the number of years you choose, each part taxed on top of your retirement income with the 2026 tables, in today's dollars. The calculator flags the Guaranteed Income Supplement range and the Old Age Security recovery without building them into the result.
Benefits
Canada child benefit: thresholds and reduction rates for July 2026 to June 2027, applied to family net income before and after the deduction. Old Age Security: 15% of net income above $95,323 for 2026 income. Guaranteed Income Supplement: the $23,112 threshold for a single person, used as a flag only.
What is left out
Non-refundable credits other than the basic amount (CPP or QPP, EI, Canada employment amount, age, pension), the low-income tax reductions of Ontario and British Columbia, the Ontario Health Premium, the alternative minimum tax, dividends and capital gains, Quebec's Family Allowance, and provincial income-tested benefits. The 2027 TFSA limit is not published: it is neither estimated nor shown.
Tests
Before each release, automated tests check the TFSA total ($109,000), the start of room by age and arrival, withdrawals added back, the RRSP cushion, withholding, FHSA room and carry-forward, the HBP and LLP repayment dates, marginal rates worked out by hand (Ontario, Quebec, Alberta, British Columbia) and the RRSP and TFSA tie when rates are equal.