Registered vs. Non-Registered Accounts

Adjust the inputs below to see how the same dollar amount invested across four different account types produces very different after-tax outcomes — purely because of when and how the growth is taxed.

Pre-tax After-tax

Pre-Tax Contribution amount before tax, such as employment income or a bonus

Annual growth rate pre-tax return on investment

Time horizon years invested

yrs

Current marginal tax rate your rate today

Annual investment tax rate rate on annual income/interest

Retirement marginal tax rate your expected rate when you withdraw

After-Tax Future Value

Account	Initial Contribution	Future Value (gross)	Tax on Withdrawal	After-Tax Value
TFSA	—	—	$0	—
RRSP	—	—	—	—
Non-Reg (Capital Gains)	—	—	—	—
Non-Reg (Interest/Property)	—	—	$0	—

Visual Comparison

TFSA

RRSP

Non-Reg Cap. Gain

Non-Reg Interest

How each account type works

TFSA

Contributions are after-tax. Growth compounds tax-free. Withdrawals are tax-free. Your money is never taxed again once inside.

RRSP

Contributions are tax-deductible (pre-tax dollars go in). Growth compounds tax-free. Withdrawals are taxed as income — ideally at a lower rate in retirement.

Non-Reg (Capital Gains)

After-tax contributions. Tax deferred until realized. When you sell, only 50% of the capital gain is included in taxable income.

Non-Reg (Interest)

After-tax contributions. Interest or property income is taxed every year at your marginal rate, reducing the effective growth rate — so no further tax is due on withdrawal.

This calculator is for educational purposes only and does not constitute financial or tax advice. It uses simplified assumptions. Consult a qualified advisor for personalized guidance.