Estimate the 2026 income-tax refund an RRSP contribution is worth, by province. The deduction is integrated across your tax brackets, so a contribution that spans a bracket boundary blends the rates — no single-rate shortcut.
Your income before the RRSP deduction.
Estimates new deduction and contribution room at 18% of prior-year earned income, up to $33,810.
Your RRSP deduction limit, including carry-forward room and pension adjustments. This caps the deduction and overrides the earned-income estimate.
Room for a new contribution. Enter this separately for the over-contribution warning; it can be lower than your deduction limit if you have undeducted past contributions.
Estimated tax refund
$—
Waiting for income and contribution
Breakdown
Effective refund rate—
Top marginal rate touched—
Net after-refund cost$—
Enter your income and an RRSP contribution to see the tax refund the deduction is worth.
What is being modeled
This estimates the tax value of an RRSP deduction using 2026 federal and provincial income-tax rules, integrated across brackets (a contribution that spans a bracket boundary blends the rates). The estimate includes federal and provincial basic-personal credits, the Ontario surtax and Health Premium, the B.C. low-income tax reduction, and the Quebec federal abatement. It excludes CPP, EI, benefit clawbacks, and filer-specific credits and deductions. It estimates the tax value of the deduction—not your actual cheque, which also depends on tax already withheld at source.
Estimates only, as of 2026.
This tool estimates the tax value of an RRSP deduction using 2026 federal and provincial income-tax rules integrated across brackets. It includes basic-personal credits, the Ontario surtax and Health Premium, the B.C. low-income tax reduction, and the Quebec federal abatement. It excludes CPP, EI, filer-specific credits and deductions, and clawbacks such as the OAS recovery tax.
A refund is deferred tax, not free money: RRSP and RRIF withdrawals are fully taxable later. Your actual refund also depends on tax already withheld at source. Verify your contribution room on your CRA notice of assessment. This is for planning and information only, not tax or financial advice.
Frequently asked questions
Is my RRSP refund free money?+
No. A refund is your own deferred tax, not a windfall. The deduction lowers your taxable income now, but RRSP (and later RRIF) withdrawals are fully taxable as income when you take them out. You come out ahead only if you withdraw in a lower bracket than you contributed — see the RRSP vs TFSA calculator to check whether the RRSP is even the right account for this dollar.
Can I contribute in the new year and still deduct it for last year?+
Yes. Contributions made in the first 60 days of a year can be deducted on the prior year's return (or carried forward). This is why the RRSP 'deadline' falls in early March: it is the cutoff for contributions that count against the previous tax year.
How is my RRSP room calculated?+
New room is 18% of your prior year's earned income, up to the annual dollar limit ($33,810 for 2026), plus any carry-forward room from prior years. If you are a member of a registered pension plan, a pension adjustment reduces your new room. Your notice of assessment from CRA shows your actual deduction limit — enter it in the optional NOA room field to use it directly; it overrides the 18% estimate.
Why might my actual refund be different?+
This estimates the tax value of the deduction — the tax you save by lowering your taxable income. Your actual cheque also depends on how much tax was already withheld at source from your paycheques. If you were over-withheld, your refund can be larger; if under-withheld, smaller. The estimate includes basic-personal credits and selected provincial adjustments, but filer-specific credits, deductions, and benefit clawbacks can still change the result.
What happens if I over-contribute to my RRSP?+
CRA allows a $2,000 lifetime over-contribution buffer. Beyond that, the excess is taxed at 1% per month until you withdraw it, and the over-contributed amount is not deductible until you have room for it. Enter contribution room separately for an accurate warning. It can be lower than your NOA deduction limit if you have past contributions you have not deducted yet.
Are these numbers tax advice?+
No. This is a 2026 estimate using federal and provincial income-tax rules, including basic-personal credits, the Ontario surtax and Health Premium, the B.C. low-income tax reduction, and the Quebec federal abatement. It excludes CPP, EI, filer-specific credits and deductions, and clawbacks such as OAS. Use it to anchor a decision, not to file a return. Confirm your room and situation with CRA or a tax professional.