About Canadian Financials
Canadian Financials explains the three registered accounts most Canadians use, the TFSA, the RRSP and the FHSA, in plain English, with calculators that show their math and an official source for every figure.
Please read: these are guides, not advice
Everything on this site is general information to help you understand how the rules work. It is not financial, tax, investment or legal advice, and it cannot see your full situation: your other income, your credits, your history with each account or the rules in your province.
- Do your own research. Treat each page as a starting point, not an answer.
- Always confirm with official sources. Every page lists the CRA or other official publications it is based on. If anything here differs from them, the official source is right.
- Check your own numbers. Your CRA My Account and Notice of Assessment are the official record of your contribution room and limits, not any calculator.
- Get professional help for decisions that matter. A qualified accountant, tax professional or financial planner can look at the whole picture.
Rules and limits change, usually each November and in federal and provincial budgets. Pages show the date they were last checked, but a rule can change after that date.
Official sources to check
These are the primary sources behind the site, and the places to confirm anything you read here:
- CRA My Account: your official TFSA room, RRSP deduction limit, FHSA participation room and Home Buyers' Plan balance.
- CRA: Tax-Free Savings Account: TFSA rules, contribution room and the over-contribution tax.
- CRA: RRSPs and related plans: RRSP limits, deadlines, withdrawals, the HBP and the LLP.
- CRA: First Home Savings Account: FHSA eligibility, limits and qualifying withdrawals.
- CRA: Tax rates and income brackets: federal and provincial rates for the current year.
- Revenu Québec: Quebec income tax, which the CRA does not administer.
- Department of Finance Canada: federal budgets and announced changes that have not taken effect yet.
Who runs the site
Canadian Financials is an independent website. It is not affiliated with, endorsed by or acting on behalf of the Canada Revenue Agency, Revenu Québec, any government, or any bank or investment firm. Pages are attributed to the official sources they are based on rather than to an individual, because those sources, not this site, are the authority.
What the site covers
- The TFSA: how contribution room accrues from age 18, a room table for every birth year, and the withdrawal and over-contribution rules.
- The RRSP: the deduction limit, the contribution deadline, the Home Buyers' Plan and Lifelong Learning Plan, and what happens at 71.
- The FHSA: eligibility, the annual and lifetime limits, qualifying withdrawals and what to do with money that is never used for a home.
- RRSP tax savings for every province and territory, computed from each jurisdiction's 2026 brackets and credits.
- Guides that go deep on a single rule, decision pages for common situations, and a glossary of the terms used throughout.
How numbers are sourced
The tax rates, bracket thresholds and contribution limits behind every calculator and table live in four structured data files, so each figure is entered once and used everywhere. Guides quote the same figures and are re-checked whenever a data file changes. Each file records the official publication it was checked against and the date of its last review:
| Data file | Checked against | Last reviewed |
|---|---|---|
| Federal and provincial tax brackets | CRA, T4127 payroll formulas, Revenu Québec | |
| TFSA annual limits since 2009 | CRA limits table | |
| RRSP limits and deadlines | CRA limits table and important dates | |
| FHSA limits and rules | CRA FHSA pages |
A province's brackets are only published once they have been confirmed against at least two official sources. For Quebec, Revenu Québec is the primary source. The calculators use annual rates, never the prorated mid-year withholding rates that the CRA publishes each July.
How pages are written and reviewed
- Every claim is sourced. Each page ends with the official pages it relies on, so you can check the rule yourself.
- The math is visible. Switch any page to "Show the math" to see the formula, the assumptions and the caveats behind a number.
- Pages carry a review date. It is the last time the page was checked against its sources. Data is re-reviewed each November, when the CRA publishes the next year's indexed brackets and limits, and when a budget changes a rule.
- Writing tools. Drafts are sometimes prepared with the help of AI writing tools. Nothing is published until every figure and rule on the page has been checked against the cited source.
Corrections
If you find an error, email [email protected] with the page address. Confirmed errors are fixed promptly, and material corrections are recorded in the changelog with the date and what changed.
How the site is funded
The site is free to use and is supported by display advertising served by Google AdSense. Advertisers have no say over what is written, which accounts or strategies are discussed, or how any calculator works. If a page ever includes an affiliate link, it is labelled on that page. See the privacy policy for how advertising cookies and consent work, and the terms of use.