WealthGive every Canadian account a clear role
Limits, withdrawals, tax context and goals: a starting point for understanding Canada’s main registered accounts.
Updated July 17, 2026 · Canadian educational resource
The general role of each wrapper
| Account | Common objective | Distinctive point |
|---|---|---|
| TFSA | Flexible saving and investing | Withdrawals are generally tax-free; room returns the next year |
| RRSP | Retirement saving | Deductible contribution; withdrawals generally taxable |
| FHSA | Eligible first home | Contribution deduction and qualifying tax-free withdrawal |
| RESP | Post-secondary education | Potential grants and a named beneficiary |
| RDSP | Long-term disability-related saving | Grants and bonds subject to eligibility |
| RRIF | Retirement drawdown | Annual minimum withdrawal after conversion |
Three limits not to mix up
Personal room
The headline limit is not always your available room. Age, residency, contributions and withdrawals change the calculation.
Withdrawal rules
A TFSA, RRSP, FHSA or RESP withdrawal receives different treatment and does not always recreate room.
Qualified investments
The tax wrapper does not make every asset eligible. Verify the official account rules.
Track accounts together without erasing their differences
The consolidated view measures total allocation and risk. The account view preserves tax context and purpose. Both are necessary.
WealthWise keeps accounts separate in the data, then combines them for overall analysis. This makes it possible to see one ETF spread across several wrappers without losing the account type.
Guides and calculators by account
Read the official rule and the detailed guide for the account connected to your objective.
TFSA guide Canada
Room, withdrawals, overcontributions and qualified investments.
RRSPRRSP guide Canada
Deduction, limit, HBP, withdrawals and RRIF conversion.
FHSAFHSA guide
Opening, room, transfers and qualifying withdrawals.
RESPRESP guide Canada
Contributions, grants and educational assistance payments.
RDSPRDSP guide Canada
Eligibility, grants, bonds and repayment rule.
HistoryConfirmed TFSA limits
Official annual limits plus a clearly labelled projection.
Sources and method
Rules, limits and fees change. The primary sources below were reviewed on July 17, 2026. Always verify the official version before acting.
- Canada Revenue Agency — TFSA — room, contributions and withdrawals
- Canada Revenue Agency — RRSP — contributions, deductions and withdrawals
- Canada Revenue Agency — FHSA — first-home account rules
- Government of Canada — RESP — education savings and grants
Frequently asked questions
Is a TFSA or RRSP an investment?
No. It is an account type with tax rules. The account can hold eligible investments such as cash, GICs, bonds, stocks or ETFs.
Does the annual limit equal my available room?
Not always. Personal room depends on factors including age, residency, contributions, withdrawals and unused room.
Can WealthWise track several account types?
Yes. WealthWise preserves each account type and also provides a consolidated view of positions and allocation.
Is the 2027 TFSA limit official?
As of July 17, 2026, the CRA confirms the 2026 limit of $7,000 but still lists no official amount for 2027. Any 2027 figure must therefore be presented as an estimate.
Keep every account distinct and analyze them together
Track TFSAs, RRSPs, FHSAs and non-registered accounts in a structure designed for Canada.