RRSP, TFSA, and FHSA calculator 2026
The first section calculates the federal and Quebec refund from a deductible contribution, using the 2026 brackets. The second compares the same after-tax outlay: the TFSA receives that amount, and the RRSP and FHSA are grossed up by the refund at the marginal rate.
Sources checked on October 27, 2026. CRA: 2026 RRSP dollar limit $33,810 (18% of prior-year earned income, rounded to the dollar); TFSA $7,000 (an illustrative cumulative $109,000 if the person was 18 in 2009 and never contributed); FHSA $8,000 a year, $40,000 lifetime, maximum carry-forward $8,000. 2026 federal brackets, basic personal amount $16,452 / $14,829, and the 16.5% Quebec abatement (CRA). Quebec: 14%, 19%, 24%, and 25.75%, basic personal amount $18,952 (Revenu Québec and the Finance department).
Frequently asked questions
What is the 2026 RRSP limit?
The dollar limit is $33,810. New room is the lesser of that limit and 18% of prior-year earned income, rounded to the nearest dollar, plus unused room. 18% of $187,833 is $33,810.
Does the refund include the QPP and Employment Insurance?
No. It measures only federal tax, after the 16.5% Quebec abatement, and Quebec income tax. Payroll contributions do not change with an RRSP contribution in this model. Full take-home pay is a separate calculator.
Why can the effective rate differ from the marginal rate?
The marginal rate is the rate on the last dollar. A large contribution can cross a bracket, or it can create tax that credits had wiped out. The total refund divided by the deduction is then the effective rate. The RRSP/TFSA comparison assumes the gross-up stays in one bracket.
What are the 2026 TFSA and FHSA limits?
The TFSA limit is $7,000. The $109,000 cumulative figure is only illustrative for someone eligible since 2009 who never contributed. The FHSA is $8,000 a year and $40,000 over a lifetime; unused room carries forward by up to $8,000, so at most $16,000 in one year.
Is an FHSA withdrawal taxable?
A qualifying withdrawal for a first home is not: the future value comes out in full. With that box cleared, the tool taxes the FHSA like an RRSP, at the withdrawal rate you enter.
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