RRSP Calculator
Updated on 22 Oct 2026 for the 2026 tax year · Checked by Aotob
Putting C$10,000 into your RRSP gets you about C$2,965 back in tax.
So it really costs C$7,035. Doing the same every year until 71 at 5% builds C$980,132, taxed when you take it out.
Tax refund
C$2,965
Withdrawals in retirement are taxed as income, so an RRSP pays most when your tax rate now is higher than it will be later.
Show the working
Refund = tax on 90,000 − tax on 80,000 = 2,965 (29.7%)
Limit = 18% × 90,000, at most 33,810 = 16,200
Contributing every year until 71
Refund at other amounts
| Contribution | Refund | Cost to you |
|---|---|---|
| 2,000 | 593 | 1,407 |
| 5,000 | 1,482 | 3,518 |
| 10,000 | 2,965 | 7,035 |
| 15,000 | 4,448 | 10,553 |
| 16,200 | 4,803 | 11,397 |
| 20,000 | 6,080 | 13,920 |
Questions people ask
What is my RRSP limit for 2026?
18% of your 2025 earned income up to $33,810, plus unused room from earlier years and minus any pension adjustment. Your exact figure is on your notice of assessment.
When is the deadline?
Contributions in the first 60 days of 2027 can be deducted on your 2026 return.
Why is my refund more than 20%?
The refund is at your marginal rate, federal plus provincial, which is between about 20% and 54%. The more you earn, the more each dollar saves.
Updated 22 Oct 2026Tax year 2026Source: CRA: RRSP deduction limitChecked by AotobRefund estimated from 2026 rates. Your actual refund also depends on tax already withheld.Report an issue