RRSP Tax Savings Calculator
See how much income tax an RRSP contribution saves you in any Canadian province, using the same 2026 tax rules as the Canada salary calculator. It runs in your browser.
Also searched as: rrsp calculator · rrsp tax refund calculator · rrsp contribution calculator · rrsp deduction calculator
Updated November 9, 2026
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How to use it
- 1
Pick your province
Choose the province or territory where you live.
- 2
Enter your income
Type your yearly income before tax.
- 3
Enter the contribution
See the tax saved, and the saving for other amounts.
Questions about rrsp tax savings calculator
How does an RRSP save tax?
An RRSP contribution is deducted from your taxable income, so you pay less income tax this year. You pay tax on the money when you take it out.
How much can I contribute?
Your limit is on your latest notice of assessment from the Canada Revenue Agency. The tool does not check it.
Why does the saving change with income?
Higher income is taxed at higher rates, so each dollar you deduct saves more.
How the saving is worked out
The tool works out your income tax twice: once as normal, and once with the contribution taken off your taxable income. The difference is your saving. For someone in Ontario earning 80,000, a 5,000 contribution saves 1,482.50, which is 29.65% of the contribution. CPP and EI are still worked out on your full pay.
The saving per dollar rises with income, because higher income is taxed at higher rates.
| Income in Ontario | Tax saved by 5,000 | Saved per dollar |
|---|---|---|
| 40,000 | 1,102.50 | 22.05% |
| 60,000 | 1,216.78 | 24.34% |
| 80,000 | 1,482.50 | 29.65% |
| 100,000 | 1,508.29 | 30.17% |
| 150,000 | 2,170.48 | 43.41% |
Good to know
An RRSP deduction defers tax, it does not remove it. You pay tax on the money when you take it out, so contributing helps most when your tax rate now is higher than it is likely to be in retirement.
Your contribution limit is shown on your latest notice of assessment from the Canada Revenue Agency, and unused room carries forward. The tool does not check it. Figures use the 2026 federal and provincial rules for one person with employment income, and leave out spouse, dependant and other credits. Quebec has its own tax system, so its figures are the roughest.