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TFSA vs. Non-registered Account In a TFSA, investment income is not taxed Assumes a $200 monthly contribution for 20 years, a 5.5% rate of return and an average tax rate of 21%. Source: Government of Canada, 2008 budget.
TFSA vs. RRSP With a TFSA, withdrawals are not taxed 3,502 3,502 Net proceeds (2,334) 0 Tax (40% rate) 5,836 3,502 In 20 yrs @ 5.5% 2,000 1,200 Net contribution 0 (800) Tax (40% rate) 2,000 2,000 Funds to invest RRSP TFSA
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Leveraging carries its own risks and is not for everyone. Talk to your advisor for advice on properly managing those risks.