RRSP tax refund calculator
Choose your province, enter your taxable income before the deduction and the amount you will contribute. You get the tax saved and the real cost of the contribution.
Free · no signup Runs in your browser
Working with a different rate? Edit the rates this calculator uses
These are the figures we verified on 2026-10-23. Change them to work with a historic period, or with a new rate that has been announced but which we have not published yet.
For another tax year, a different province's rate or a rate you already know.
How much tax refund will an RRSP contribution give me?
It saves tax at your marginal rate, which depends on your income and province. An Ontario resident with $90,000 of taxable income who contributes $10,000 saves $2,965.00, or 29.6% of the contribution. At $200,000 the same $10,000 saves $4,796.96 and at $50,000 it saves $1,905.00.
Why we built this calculator
A rule of thumb such as 'you get back about 30%' hides the thing that matters: the refund is the tax at your top rate, so it is smaller on a modest income and larger on a high one, and it differs by province. Ontario adds a surtax on top of the provincial bracket, which makes the saving at higher incomes bigger than the brackets alone suggest.
This calculator finds the tax with and without the deduction. To see your limit use the RRSP contribution limit calculator, and for the rate on your next dollar the marginal tax rate calculator.
It runs in your browser. Nothing you enter is sent anywhere, and there is no sign-up.
How it works
The refund is the tax you would pay on your taxable income, less the tax you would pay after deducting the RRSP contribution: tax(income) − tax(income − contribution). Each tax is the federal tax plus the provincial tax (plus the Ontario surtax where it applies), after the basic personal amount credit, using 2026 brackets. Because the deduction takes income off the top, the saving is at the rates of the brackets that slice falls in, and when it crosses a bracket edge the saving is a blend of two rates. An Ontario resident with $90,000 of taxable income who contributes $10,000 saves $2,965.00, or 29.6% of the contribution; at $200,000 the same $10,000 saves $4,796.96, and at $50,000 it saves $1,905.00. The net cost of the contribution is the contribution less the refund. The calculator does not apply your RRSP deduction limit, so check it first.
How to use it
- Choose your province or territory.
- Enter your taxable income before the deduction.
- Enter the RRSP contribution you plan to deduct.
- Read the tax saved, the percentage of the contribution and the net cost.
- Check your RRSP deduction limit on your Notice of Assessment before you contribute.
What the calculation assumes
What goes into the answer, and what does not.
| Aspect | What happens |
|---|---|
| Taxable income | The figure you enter, before the deduction |
| Tax | Federal and provincial, with the Ontario surtax |
| Credits | Only the basic personal amount; other credits are not included |
| Deduction limit | Not applied: your own limit is on your Notice of Assessment |
| Contributions later | The refund is a tax saving now; withdrawals are taxed later |
| Advice | General information, not financial advice: check the figures with your lender, bank or an adviser |
| Privacy | Everything is worked out in your browser; nothing you enter is uploaded or saved |
When to use it
- Deciding how much to put in an RRSP before the deadline
- Comparing an RRSP with a TFSA at your income
- Working out the real cost of a contribution after the refund
- Seeing whether a contribution would move you into a lower bracket
Problems you may run into
Most differences come from the inputs and from the meaning of the numbers.
| What you see | Likely cause | What to do |
|---|---|---|
| My refund is different | Other credits, deductions or a different taxable income | Use your tax return software for the exact figure |
| The saving is a blend of two rates | The deduction crosses a bracket edge | That is correct: part is saved at each rate |
| I contributed more than my limit | The calculator does not check your limit | Excess contributions can be taxed; check your Notice of Assessment |
| The refund arrives later | The refund comes with your return or a lower withholding | Ask your employer about reducing tax at source for payroll contributions |
| I want to compare with a TFSA | A TFSA gives no deduction | Use the RRSP vs TFSA calculator |
Mistakes it helps you avoid
- Assuming one refund percentage fits every income.
- Forgetting the Ontario surtax at higher incomes.
- Counting the refund as extra income rather than a reduction in tax.
- Contributing more than your deduction limit.
How the refund is worked out
Tax is worked out twice, once on your income and once on your income less the contribution.
refund = tax(taxable income) − tax(taxable income − contribution)tax(...) = federal tax + provincial tax + Ontario surtax,each after the basic personal amount creditnet cost of the contribution = contribution − refund
The deduction reduces taxable income, so the refund is the tax at the brackets the deducted slice falls in; when it crosses a bracket edge the saving is a blend of two rates. The calculator does not apply your RRSP deduction limit, so check it first.
Worked example: Ontario, $90,000 of taxable income, $10,000 contribution
You live in Ontario with $90,000 of taxable income and contribute $10,000 to your RRSP.
- Tax on $90,000$17,712.25
- Tax on $80,000$14,747.25
- Tax saved$2,965.00
- As a share of the contribution29.65%
- Net cost of the contribution$7,035.00
The contribution saves $2,965.00, so the $10,000 costs you $7,035.00 after the refund.
At $200,000 the same contribution saves $4,796.96; at $50,000 it saves $1,905.00.
Terms on this page
- RRSP deduction
- The amount you subtract from income for contributions, up to your deduction limit.
- Marginal rate
- The rate of tax on your next dollar, which sets the value of a deduction.
Common questions
How is an RRSP refund calculated?
It is the difference between the tax on your income and the tax on your income less the contribution.
Why does the refund percentage change with income?
The deduction saves tax at your marginal rate, which rises with income and differs by province.
Does Ontario's surtax affect the refund?
Yes. Ontario charges a surtax on provincial tax above $5,818, which raises the marginal rate and so the refund at higher incomes.
Can I contribute as much as I want?
No. Your deduction limit sets how much you can deduct. Use the RRSP contribution limit calculator.
Is the refund free money?
No. It is tax deferred, not removed: the money stays invested and withdrawals are taxed as income.
Where these numbers come from
- Canada Revenue Agency — Canadian income tax rates for individuals, current year The 2026 federal and provincial brackets.
Last verified 2026-10-23 Rates on this page are checked against the sources above at least once a year, and whenever the governing authority announces a change. Spotted something out of date? Tell us and we will fix it.
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