TFSA, RRSP and FHSA Tax Rules in Canada
Contribution room, deductions, withdrawals and penalties for the registered accounts.
This hub covers the tax rules of Canada's registered accounts: how contribution room is created, what a deduction is worth, what happens when you withdraw, and what the CRA charges when you put in too much. It is the rules side; opening an account and choosing investments live in the Investing hub for accounts and asset location.
Use the comparison guide first if you are deciding where the next dollar goes. Then read the account you picked: the RRSP playbook, TFSA strategies, the FHSA guide, spousal RRSPs and the withdrawal-tax guide each explain one account in depth, with the limits for the year named and linked to the CRA.
Over-contributions are the most expensive mistake in this hub, so the penalty guide shows how the monthly tax is calculated and how to fix it before it compounds.
What this hub helps you decide:
- Should my next dollar go to an RRSP, TFSA or FHSA?
- How much contribution room do I have, and where do I find it?
- What tax do I pay when I withdraw?
- How do I fix an over-contribution before the penalty grows?
Updated November 2026 · 8 guides by Andrew
Start here
- RRSP vs. TFSA vs. FHSA — Which Account Should You Prioritize?
- 2026 Canadian Contribution Limits | RRSP TFSA FHSA CPP
- The RRSP Playbook — Strategies to Maximize Your 2026 Contribution
- TFSA Strategies Most Canadians Don't Know About
- The Complete Guide to Canada's First Home Savings Account (FHSA) in 2026
New to taxes? Read the overview first: How Canadian Taxes Actually Work — A Plain-English Guide.
All TFSA, RRSP & FHSA Tax Rules guides
How Much Tax Do You Pay on an RRSP Withdrawal? Withholding vs What You Owe
Outside Quebec, RRSP withholding is 10, 20, or 30 percent. The tax you owe is your bracket. Splitting withdrawals does not change the bill.
TFSA Over-Contribution Penalty: How It's Calculated and How to Fix It
A TFSA excess is taxed at 1% a month on the highest excess that month. The 2026 limit is $7,000. Withdraw it; that month still counts.
Spousal RRSP Guide: Attribution, Withdrawals, and When It Still Helps
A spousal RRSP uses the contributor's room. A withdrawal is attributed back if the contributor put money in during the year of the withdrawal or the two preceding years.
2026 Canadian Contribution Limits | RRSP TFSA FHSA CPP
FHSA unused room carries forward, but only up to $8,000. That cap limits what you can contribute in a single year.
RRSP vs. TFSA vs. FHSA — Which Account Should You Prioritize?
How to choose between an RRSP, a TFSA, and an FHSA based on your income, a first home, and which account should get the next dollar.
The Complete Guide to Canada's First Home Savings Account (FHSA) in 2026
Since 2023, the First Home Savings Account has been a powerful tool for a first home. This guide shows how to use it.
TFSA Strategies Most Canadians Don't Know About
TFSA strategies past the annual deposit: how withdrawals restore room, what belongs in the account, and transfers that waste the tax-free space.
The RRSP Playbook — Strategies to Maximize Your 2026 Contribution
A $10,000 RRSP contribution can save between $1,800 and $5,480 in tax. The amount depends on when you contribute and your bracket.