If you have extra money, this calculator helps you decide whether to invest or pay off debt.

Your loan:

Make your money grow faster by reinvesting all the money you earn. Changing how often your money compounds, changes your results.

Tax paid on each extra dollar of income earned; rate is based on income level. Different rates apply to interest, dividends and capital gains.

For assistance in calculating the marginal tax rate on your income, please use this marginal tax rate calculator.

Tax on debt is deductible if used for business and/or investing.

Your investment:

Investments in registered accounts (e.g., RRSP or RESP): returns are not taxable until withdrawn, so enter "0." Investments outside registered accounts: returns are taxable in the year they're earned.
Capital gains are taxed when the investment is sold; the capital gains inclusion rate is 50%, so enter half your marginal tax rate. Interest is taxed at your marginal rate, so enter that same number. Dividends are taxed based on
their type.

For assistance in calculating the marginal tax rate on your investment, please use this marginal tax rate calculator.