RRSP Tax Refund
Calculator
Enter your income and RRSP contribution to see how much tax you get back. The calculator compares your tax with and without the deduction, using 2026 federal and provincial rules for your province.
Your income and contribution
Your RRSP refund
Estimates use 2026 federal and provincial tax rules and your income as entered. Your actual refund depends on your full return, other credits and deductions, and what was withheld at source. Not tax advice. Terms →
Refund by contribution size
The same income and province, with different contribution amounts. Your selected amount is highlighted.
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Refund by province
The same income and contribution in every province and territory, sorted from the largest refund. Provinces differ because their tax rates and brackets differ.
| Province | Refund | Back per dollar |
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How an RRSP refund actually works
An RRSP contribution is a deduction. It lowers your taxable income for the year, and your tax falls by your marginal rate on the amount deducted. The refund is not a bonus from the government. It is the tax you would have paid on that money, returned to you now, in exchange for paying tax on it later when you withdraw it.
Your refund equals your marginal rate, not your average rate
The marginal rate is the combined federal and provincial rate on your next dollar of income. In 2026 the federal brackets run from 14% on the first $58,523 of taxable income to 33% above $258,482, and each province adds its own brackets on top. A person in Ontario earning $75,000 has a combined marginal rate of about 29.6%, which is roughly $1,500 on a $5,000 contribution. The estimate is $1,633 because the deduction also lowers taxable income below the point where the Ontario Health Premium steps down. At $120,000 in Ontario the marginal rate is much higher, because the Ontario surtax applies, and a $10,000 contribution returns about $3,689.
This calculator measures the refund by calculating your full tax twice, once without the deduction and once with it. That captures the cases where one contribution crosses a bracket line, so part of it is deducted at one rate and part at another. It also handles items that change with income, such as the Ontario surtax and health premium, the Alberta supplemental credit, and the phase-out of the federal basic personal amount for high earners.
Why the same contribution gives different refunds by province
For a $75,000 income and a $5,000 contribution, the estimated refund is about $1,633 in Ontario, $1,410 in British Columbia, $1,525 in Alberta and $1,806 in Quebec. Each province has its own rates in this income range. Quebec's rates are higher, but Quebec residents also get a federal tax abatement, and Ontario's figure includes the lower health premium. The table above runs every province for your own numbers.
Where the refund shows up
You claim the deduction on line 20800 of your tax return. If your employer withholds tax from each paycheque, the refund arrives after you file. You can also ask your employer to reduce withholding at source with CRA Form T1213, so you see the saving in each paycheque instead of waiting for a refund.
Contribution limits and deadlines
- The RRSP dollar limit for 2026 is $33,810, or 18% of your earned income from the previous year, whichever is lower, plus any unused room carried forward and minus pension adjustments.
- Contributions made in the first 60 days of 2027 (until March 1, 2027) can be deducted on your 2026 return.
- You can exceed your room by $2,000 over your lifetime without penalty. Beyond that, the CRA charges 1% a month on the excess. That $2,000 is not deductible.
- You do not have to claim the deduction in the year you contribute. Unused deductions carry forward, which is useful if you expect to earn more in a later year.
When the refund matters less than the timing
The size of the refund is only one part of the decision. If your income is low now and you expect it to be much higher in retirement, a TFSA can be a better fit, because you pay no tax on withdrawals. If your income is high now and will be lower later, an RRSP usually wins. The RRSP vs TFSA calculator compares the two for your numbers. An RRSP deduction also lowers your net income, which can raise income-tested benefits such as the Canada Child Benefit and the GST/HST credit.
Refunds are also taxed again later. RRSP withdrawals count as income in the year you take them out, and the financial institution withholds tax at source at 10%, 20% or 30% depending on the amount. Your final tax is settled on your return.
Frequently asked questions
How much tax refund will I get from an RRSP contribution?
Your refund is roughly your marginal tax rate multiplied by the amount you contribute. For a middle-income earner in most provinces that is 25% to 35%, so a $5,000 contribution returns about $1,250 to $1,750. Enter your income and province above for your own number.
How much can I contribute to my RRSP in 2026?
The dollar limit for 2026 is $33,810, or 18% of your previous year earned income, whichever is lower. Add any unused room from earlier years and subtract pension adjustments. Your exact room is on your CRA Notice of Assessment and in CRA My Account.
When is the RRSP deadline for the 2026 tax year?
Contributions made by March 1, 2027 can be deducted on your 2026 return. Contributions made after that date count toward 2027.
Do I get the refund right away?
You get it after you file your return and the CRA assesses it. To get the benefit sooner, your employer can reduce the tax withheld from your pay if you file CRA Form T1213 and the CRA approves it.
Is the RRSP refund taxable?
The refund itself is not income. But the money you contributed, and its growth, is taxed as income when you withdraw it from the RRSP.
What happens if I contribute more than my room?
The CRA allows a $2,000 lifetime buffer with no penalty. Anything above that is charged 1% per month until you withdraw it or new room opens up. Excess amounts are not deductible.
Does the refund change if I am self-employed?
The refund works the same way, but self-employed people pay both halves of CPP and the deduction base differs. Tick the self-employed box to remove the employee payroll deduction from the calculation. This calculator does not model self-employed CPP contributions.
Why is my refund different from this estimate?
Your actual refund depends on your whole return: other deductions and credits, withholding at source, and income not entered here. Treat this as an estimate of the tax saved by the contribution alone.