RRSP tax refund calculator
See roughly how much income tax an RRSP contribution could save in your province or territory. We run the same estimate with and without the deduction and show the difference.
Your situation
Before and after
After-tax income does not subtract the contribution itself: that money is still yours, held inside the RRSP.
Contribution limit
- A rough guide for the 2026 deduction limit: 18% of earned income, up to $33,810. On the income you entered that is about $15,300. (CRA uses prior-year income, so your own figure may differ.)
- Unused room carries forward, so you do not lose it if you contribute less.
- RRSP withdrawals are taxed as income later. A refund is a deferral, not a gain by itself.
Estimate for education only. This is not tax advice.
Your RRSP deduction limit is 18% of your prior-year earned income up to an annual maximum, plus unused room carried forward, minus pension adjustments. Your CRA My Account shows your official limit. Over-contributing beyond a $2,000 buffer is taxed at 1% per month. The tax saved depends on your whole tax situation; this estimate uses simplified rules.
Annual maximums: 2023 $30,780, 2024 $31,560, 2025 $32,490, 2026 $33,810. Source: canada.ca, RRSP deduction limit.
Educational information, not investment or tax advice.