RRSP Tax Refund Calculator
See exactly how much tax you save, and how much you get back, for any RRSP contribution. 2026 federal and provincial rates. Updates instantly as you type.
Your RRSP refund depends on your province's tax rates.
Amount you plan to contribute or deduct this year
Tax comparison
| Line item | Without RRSP | With RRSP | Saving |
|---|---|---|---|
| Federal tax | $10,293 | $8,243 | $2,050 |
| Provincial tax | $4,362 | $3,592 | $770 |
| Total income tax | $14,655 | $11,835 | $2,820 |
CPP and EI are unchanged by RRSP contributions and are excluded from this comparison.
How does an RRSP contribution affect your tax refund?
An RRSP contribution reduces your taxable income dollar-for-dollar. The tax you save equals the contribution multiplied by your marginal tax rate, the rate applied to your top dollars of income. Because Canada uses progressive brackets, a contribution that spans two brackets produces a blended saving that this calculator computes exactly.
What is the effective benefit rate?
The effective benefit rate is your refund divided by your contribution. It represents your “return on deduction.” At $80,000 income in most provinces, this sits between 30% and 45%. At higher incomes (above $100,000), it often exceeds 50% when combined federal and provincial marginal rates are accounted for.
What is after-refund cost?
After-refund cost is your contribution minus your estimated refund, the actual dollars leaving your pocket permanently. For example, a $10,000 RRSP contribution with a $3,800 refund has an after-refund cost of $6,200. The remaining $10,000 stays in your account growing tax-sheltered until withdrawal.
Does an RRSP contribution reduce CPP or EI?
No. CPP contributions are calculated on gross employment income before any deductions. EI premiums are similarly based on insurable earnings, not taxable income. An RRSP deduction only reduces federal and provincial income tax. This calculator correctly excludes CPP and EI from the refund estimate.
2026 RRSP contribution limit
The 2026 RRSP dollar limit is $33,810 (18% of 2025 earned income, whichever is lower). Unused room from prior years carries forward indefinitely. Your exact limit is shown on your most recent CRA Notice of Assessment or in your CRA My Account.
The 60-day rule: contributions after December 31
Contributions made in the first 60 days of 2027 (on or before March 2, 2027) can still be deducted on your 2026 tax return. Use this calculator to see the refund value before the deadline so you can decide how much to contribute.
Frequently asked questions
How much will I get back for my RRSP contribution?
Your refund equals your contribution multiplied by your marginal tax rate. At $80,000 income in British Columbia, a $10,000 RRSP contribution typically generates a refund of $3,400–$4,000 depending on deductions.Does an RRSP contribution affect CPP or EI?
No. CPP and EI are based on gross employment income. Only federal and provincial income taxes are reduced by an RRSP deduction.What is the 2026 RRSP contribution deadline?
Contributions made by March 2, 2027 (the 60-day rule) can be deducted on your 2026 tax return.What is the 2026 RRSP dollar limit?
The 2026 RRSP contribution limit is $33,810, or 18% of your 2025 earned income, whichever is lower. Unused room from prior years carries forward.
Estimates based on 2026 CRA-published rates. Your actual refund may differ based on other credits and deductions. Not tax advice. Consult a professional before making financial decisions.