Do TFSA withdrawals impact government income-tested benefits?

No. TFSA income and withdrawals do not count toward your net income and have zero impact on benefits like Old Age Security (OAS) or the Guaranteed Income Supplement (GIS).

CanadaTax-Free Savings Account (TFSA $7,000 Limit)Finance & Salary

Canada Tax-Free Savings Account (TFSA) Growth & Lifetime Limit Calculator

Calculate your cumulative lifetime TFSA contribution limit (up to $95,000+ for eligible Canadians aged 18+ since 2009) and 100% tax-free compound investment growth for stocks, ETFs, and high-interest savings.

Savings & Deposits Investment & Assets Taxes & Duties

Calculator Inputs

Live Real-Time

Annual TFSA Deposit Amount (CAD $ - Current Limit $7,000/yr)

CAD $

Quick select:

Expected Annual Investment Return (%)7 %

2 %12 %

Investment Time Horizon (Years)20 yrs

1 yrs40 yrs

Calculated ResultTax-Free Savings Account (TFSA $7,000 Limit)

Total 100% Tax-Free TFSA Ending Wealth

286,968CAD $

Total Tax-Free Compound Growth & Dividends

146,968 CAD $

Estimated Canadian Taxes Shielded / Saved

25,719 CAD $

Detailed Calculation Breakdown

Total Principal Saved

140,000 CAD $

Tax-Free Investment Profit

146,968 CAD $

Final TFSA Balance

286,968 CAD $

Calculation Methodology

Future Value = Annual TFSA Contribution * [((1 + r)^t - 1) / r]. Total Tax Saved = Tax-free capital gains * Marginal Tax Rate%.

Important Legal & Educational Disclaimer

The annual TFSA dollar limit is $7,000. All investment gains, dividends, and withdrawals are 100% tax-free and do not impact income-tested government benefits (like OAS or GIS).

This calculator is designed for educational and informational purposes only based on public statutory frameworks. The outputs do not constitute binding financial, tax, or legal advice. We assume no liability for decisions made based on these estimations. Always verify with the relevant official authorities or a certified professional advisor.