SERVICES
Tax-Free Savings Account (TFSA)
No deduction going in, nothing taxable coming out, and the room comes back the year after you withdraw. The most flexible account in the country.
TFSA CALCULATOR
What will a TFSA grow to?
Every dollar of growth inside a TFSA is yours. See what regular contributions turn into, and how much of the total is growth rather than your own money.
Your money versus the tax-free growth
Year by year
| Your money in | Growth | Value |
|---|
This is an estimate for planning purposes, not a quote, a benefit statement or financial advice. It does not account for every credit, fee, deduction or personal circumstance. The 2026 annual TFSA limit is 7,000. Growth inside a TFSA is not taxed, but over-contributing is penalised. Think Insurance Services Inc. is a licensed insurance agency; for advice specific to you, speak to an advisor.
These numbers are a starting point. Talk to an advisor about your own situation.
Talk to an AdvisorWHAT YOU GET
What this account gives you
Tax-free withdrawals
Take your money out anytime without paying a cent in tax.
Total flexibility
Put money in, take it out, and get your contribution room back the next year.
Short-term versatility
Ideal for house down payments, weddings, or emergency funds.
Common questions
Do I lose the room if I take money out?
No. Anything you withdraw is added back to your contribution room, but not until January the following year. Re-contributing in the same calendar year is the most common way people accidentally over-contribute.
Is there a limit to how much I can contribute?
Yes, there is an annual limit set by the government, and unused room carries forward from the year you turned 18. We help you track your contribution room so you can maximize your savings without facing over-contribution penalties.
Should I use a TFSA or an RRSP?
Most successful Canadians use both. We often recommend the RRSP for long-term retirement and the TFSA as a flexible backup or for major life purchases — which one goes first usually comes down to the tax bracket you are in now versus the one you expect in retirement.
Looking at an RRSP instead?
Most people end up with both. Tell us what you are saving for and we will say which one goes first.