RRSP Calculator Canada
See the tax refund your RRSP contribution creates — and what it grows to by retirement.
Estimated Tax Refund
$0
Contribution Grows To
$0
Effective Out-of-Pocket Cost
$0
How RRSP Contributions Cut Your Tax Bill
Every dollar you put in an RRSP is deducted from your taxable income, so the refund equals your contribution times your marginal tax rate. A $10,000 contribution at a 30% marginal rate returns about $3,000 at tax time — and the money grows tax-deferred until withdrawal.
The 2026 RRSP contribution limit is 18% of your previous year's earned income, up to the CRA annual maximum, plus any unused room carried forward. Check your exact room in your CRA My Account.
Frequently Asked Questions
How much tax refund will my RRSP contribution give me?
Your refund equals contribution x marginal tax rate. At $80,000 income in Ontario (~29.65% combined), a $10,000 RRSP contribution returns roughly $2,965.
What is the RRSP contribution deadline for the 2026 tax year?
You can contribute during the year and in the first 60 days of the following year (typically until March 1) to deduct it on that year's return.
Is an RRSP or TFSA better for me?
RRSP wins when your tax rate today is higher than in retirement; TFSA wins when it's lower. Many Canadians use both.