Tax-Free and taxable investment results are approximations and do not reflect actual returns
Assumptions:
Taxes are based on the annual income entered plus any compounded growth assuming no other deductions, credits, or earnings.
- Annual income assumes that this is your taxable income before taxes and deductions. Your annual income is used to estimate your combined federal/provincial marginal tax rate for the purpose of this calculator.
The initial contribution is immediate and then the incremental contributions are at the start of the "next" recurring period. (Example: customer contributes $1000 today and sets up a monthly recurring payment. The first recurring contribution does not hit the account until the first day of the second month).
Taxes are applied at the end of each year and no withdrawals are made from the account including tax which is assumed to be paid from an external account.
The growth shown is pre-tax within the TFSA savings calculations while the non-registered accounts balance applies the 2019 federal and provincial/territorial tax rates.
Taxes are an approximation and may not include surtax or other special levies such as provincial health premiums. Your actual tax rate may vary. Other registered plans are not considered (i.e., RRSP, RESP, RIF, etc.)
- Government subsidies or other grants are not included e. eg 20% grant for RESP contributions)
- All rates of return (chosen by the customer) are reflected as a full year of return in the chart.
Interest rate: Default 5.00%, range 0.00% - 15.00%
Timeline: Default is 10 years, range from 1 - 50 years
Canada
US
