Using the TFSA vs Taxable Investment calculator is an invaluable tool for comparing the potential growth of a Tax-Free Savings Account (TFSA) against a taxable investment. By comparing these two investment types, you can clearly see how the tax-free growth of a TFSA contrasts with the growth of a taxable account, which is subject to capital gains taxes, eligible dividends, and interest income.
TFSA vs Taxable Investment Calculator
Use this calculator for compare the growth of a TFSA to a taxable investment.
This TFSA vs Taxable Income calculator takes into account various factors such as your province of residence, the initial amount you invest in the TFSA, annual contributions, and the number of years you plan to invest. Additionally, it incorporates your expected rate of return, providing a detailed projection of how your investments will grow over time.
TSFA vs Taxable Investment Calculator is also available in French
Use the calculator offers a breakdown of how different types of income—interest, eligible dividends, and capital gains—are taxed in a taxable account versus the tax-free status of a TFSA. This breakdown is crucial for understanding how each type of investment income impacts your overall returns. For instance, interest income is typically taxed at a higher rate than capital gains or dividends, and this difference can significantly influence your investment strategy. By analyzing these factors, you can better appreciate how the tax advantages of a TFSA can enhance your investment growth compared to a taxable account.
TFSA vs Taxable Investment Calculator
Calculators are available in English and French.
TFSA vs Taxable Investment calculator for Advisors
For financial advisors, utilizing the TFSA vs Taxable Investment calculator is a strategic move when working with clients. It enables advisors to provide personalized advice based on the client’s specific financial situation, including their province’s tax regulations and their investment goals. By demonstrating how a TFSA can offer superior tax efficiency and potentially higher net returns over time compared to taxable investments, advisors can help clients make more informed decisions. This personalized analysis not only enhances the advisor-client relationship but also contributes to more effective and tailored financial planning strategies.
The calculator can be viewed for free up to five (5) times on this site.
To use the full-featured versions of these calculators in FreshPlan, please contact us.
Companion Infographic
This TFSA infographic illustrates what types of investment are eligible. The helpful resource is updated each year with current contribution limits and information about eligibility and tax deductibility. Discover highlights on timing and tax on withdrawing funds. This infographic is an effective companion the the TFSA calculators.
Features
Consumer-facing
These consumer-facing financial calculators can be embedded in your web site quickly and easily and complies with web accessibility standards.
Responsive
Calculators are easy-to-use and fully responsive on any device – phone, tablet, laptop or desktop.
Full Branding
Calculators can be fully branded according to your branding style guide. You’ll be up and running with a quick turnaround.