RRSP Tax Savings Calculator 2026
See exactly how much you save in tax by contributing to your RRSP.
Your inputs
Reinvest your refund
Contributing $15,000 at your marginal rate of 37.2% generates roughly $4,890 back. Reinvesting that refund into your RRSP, TFSA, or against debt is the highest-value move for most Canadians.
Simplified calculation - does not include CPP/EI, tax credits beyond the basic personal amount, or clawbacks of income-tested benefits.
Frequently Asked Questions
How is my RRSP refund calculated?
Your refund is the tax you would have paid on the amount you contributed. The calculator recomputes your total tax at your original income and at your income minus the contribution - the difference is your refund.
What is the 2026 RRSP contribution limit?
You can contribute up to 18% of your prior-year earned income to a maximum of $32,490 for 2026, plus any unused contribution room carried forward from prior years. Your CRA Notice of Assessment shows your exact room.
Is a bigger RRSP contribution always better?
Not always. RRSP works best when your marginal rate now is higher than your expected rate in retirement. For lower earners or those already in low brackets, a TFSA is often better.
When should I use my refund?
The most tax-efficient move is to reinvest it - either back into your RRSP for compounding growth, into your TFSA, or against high-interest debt.
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