RRSP refund calculator · 2026 tax year

What will an RRSP contribution save you in tax?

Every dollar you put in an RRSP comes off your taxable income. Pick an amount and your tax bracket to see the refund, and what the money could grow into by retirement.

$33,8102026 RRSP dollar limit

Mar 1, 2027Deadline for the 2026 tax year

18%Of last year's earned income

$35,3902027 RRSP dollar limit

RRSP contribution $5,000

Your marginal tax rateYour combined federal and provincial rate on your last dollar of income.

Years until retirement 25

Expected annual return 5.0%

Estimated tax refund

Real cost to you after refund$0

Contribution value at retirement$0

…if the refund is also invested$0

The guides

2026 RRSP limit

How your personal limit is worked out, where to find it, and the $2,000 cushion.

RRSP deadline

March 1, 2027 for the 2026 tax year, and how the first-60-days rule works.

Withdrawals and tax

Withholding rates, the Home Buyers' Plan, and converting to a RRIF at 71.

Quick answers

How much tax will I save with an RRSP?

Roughly your contribution times your marginal tax rate. At a 30% rate, a $5,000 contribution saves about $1,500.

Should I choose an RRSP or a TFSA?

An RRSP tends to win when your tax rate today is higher than it will be in retirement. Our sister site TFSA Room compares them in detail.

Can I contribute more than my limit?

There's a lifetime $2,000 over-contribution cushion. Beyond that, the excess is taxed at 1% a month.