What is the TFSA contribution limit for 2026?

The TFSA annual contribution limit for 2026 is $7,000. If you have been eligible since 2009 and have never contributed, your cumulative room is up to $109,000.

Should I choose an RRSP or a TFSA?

It depends on your tax bracket now and in retirement. The RRSP is generally better at higher incomes, roughly $60,000 or more, because the deduction is worth more at higher marginal rates. The TFSA is often better under about $50,000, when you need flexibility, or when saving for a non-retirement goal.

The First Home Savings Account (FHSA) lets first-time home buyers contribute up to $8,000 per year ($40,000 lifetime), deduct contributions from taxable income, and withdraw tax-free for a qualifying home purchase. It combines features of the RRSP and TFSA.

What is the RRSP deduction limit for 2026?

The RRSP deduction limit for 2026 is 18% of your prior-year earned income, up to a maximum of $33,810. Unused room carries forward indefinitely.

TFSA, RRSP, FHSA and RESP Calculator 2026

Project your registered account growth with adjustable return rates. Compare the TFSA, RRSP, FHSA and RESP side by side to plan your savings allocation for 2026.

2026 contribution limits

TFSA: $7,000 annual limit ($109,000 cumulative since 2009)
RRSP: 18% of prior-year earned income, up to $33,810
FHSA: $8,000 annual limit ($40,000 lifetime)
RESP: $2,500/year per child earns the maximum CESG

Savings & Investments

The Savings Planner projects tax-sheltered growth across the TFSA ($7,000/yr limit), FHSA ($8,000/yr), RRSP ($33,810/yr) and RESP (20% CESG match) using 2026 CRA contribution limits.

Canada Tax Planner estimates federal and provincial income tax for all 13 Canadian provinces and territories using the CRA T4127 (January 2026) payroll formulas, and the Revenu Québec formulas for Quebec.

Estimates only — how we calculate

Projection Settings

Expected Return

Years

Annual TFSA

Max $7,000/yr

Annual RRSP

Max $33,810/yr

Annual FHSA

Max $8,000/yr

TFSA

$103,485

Room: $45,500 · Tax-free growth

Tax saved vs taxable: $10,046

FHSA

$69,042

$8,000/yr max · $40,000 lifetime · First home

Tax deduction: $12,000

RRSP

Room: $0

TFSA Growth (10yr @ 7.0%)

RRSP Growth (10yr @ 7.0%)

Your Optimal Savings Plan

Based on your profile, here is how to allocate your savings for maximum tax efficiency:

TFSA

$25,000

FHSA Deep Dive

CRA Data Sources

TFSA annual contribution limit — $7,000 for 2026Source: CRA TFSA contribution limit (opens in a new tab)

RRSP deduction limit — $33,810 for 2026 (18% of prior-year earned income)Source: CRA RRSP deduction limit (opens in a new tab)

FHSA annual limit $8,000, lifetime limit $40,000Source: CRA FHSA contribution limit (opens in a new tab)

RESP Canada Education Savings Grant — 20% match up to $500/year per childSource: CRA RESP Canada Education Savings Grant (opens in a new tab)

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Projections assume constant contributions. Actual returns will vary. Not investment advice.

Savings & Investments

The Savings Planner projects tax-sheltered growth across the TFSA ($7,000/yr limit), FHSA ($8,000/yr), RRSP ($33,810/yr) and RESP (20% CESG match) using 2026 CRA contribution limits.

Year	Balance
1	$7,490
2	$15,504
3	$24,080
4	$33,255
5	$43,073
6	$53,578
7	$64,819
8	$76,846
9	$89,715
10	$103,485

Year	Balance
1	$7,490
2	$15,504
3	$24,080
4	$33,255
5	$43,073
6	$53,578
7	$64,819
8	$76,846
9	$89,715
10	$103,485