RRSP Tax Refund Calculator 2026 (by Province)

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Formula at a glance

RRSP Tax Refund Calculator: Refund — tax(income) − tax(income − contribution). Example: $10,000 on $90,000 in Ontario → Tax refund from your RRSP: $2,965 — How the RRSP Tax Refund Calculator works: Refund — tax(income) − tax(income − contribution)

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📘 About the RRSP Tax Refund Calculator 2026

RRSP contributions are deducted from your income, so you save tax at your combined federal and provincial marginal rate — often 30% or more.

Your limit for 2026 is 18% of 2025 earned income up to $33,810, plus unused room from earlier years (shown on your Notice of Assessment). Contributions made by 1 March 2027 count for 2026.

🧮 Formula

Refund

tax(income) − tax(income − contribution)

✏️ Worked examples

$10,000 on $90,000 in Ontario

You enter
Taxable income	90,000 $
RRSP contribution	10,000 $
Province or territory	Ontario
Your RRSP room (0 = estimate)	0 $

You get
Tax refund from your RRSP	$2,965
Contribution deducted	$10,000
Real cost after refund	$7,035
Refund as % of contribution	29.7%
2026 RRSP limit	18% of 2025 earned income, max $33,810

$2,965.

$5,000 on $60,000 in BC

You enter
Taxable income	60,000 $
RRSP contribution	5,000 $
Province or territory	British Columbia
Your RRSP room (0 = estimate)	0 $

You get
Tax refund from your RRSP	$1,144
Contribution deducted	$5,000
Real cost after refund	$3,856
Refund as % of contribution	22.9%
2026 RRSP limit	18% of 2025 earned income, max $33,810

$1,144.

🧭 How to use this calculator

What you enter

Taxable income ($)
RRSP contribution ($)
Province or territory
Your RRSP room (0 = estimate) ($)

What you get

Tax refund from your RRSP
Contribution deducted
Real cost after refund
Refund as % of contribution
2026 RRSP limit

❓ Frequently asked questions

What is the RRSP limit for 2026?

18% of your 2025 earned income, up to $33,810, plus carried-forward room.

When is the RRSP deadline for 2026?

1 March 2027 for contributions to be deducted on your 2026 return.

RRSP or TFSA?

RRSP suits higher earners now expecting lower income in retirement; TFSA suits lower earners and flexible saving.

Can I carry forward an RRSP deduction?

Yes, you can contribute now and claim the deduction in a later, higher-income year.

🍁 RRSP Tax Refund Calculator 2026