🏦 RRSP Calculator

C$
Used to work out your tax refund.
C$
Last year’s earned income sets this year’s new room (18%).
C$
C$
%
years
years
RRSPs must be converted by the end of the year you turn 71.
Carry-forward room & pension adjustment
C$
From your CRA notice of assessment.
C$
Box 52 of last year’s T4, if you have a workplace pension.

Estimated tax refund

C$2,965.00

for a C$10,000 RRSP contribution in Ontario

Federal tax savedC$2,050.00
Ontario tax savedC$915.00
Total refundC$2,965.00
2026 contribution roomC$15,300.00
Net cost of the contributionC$7,035.00
Marginal tax rate
29.65%
Refund as % of contribution
29.7%
Balance at 65
C$934,169

2026 federal and provincial brackets with basic credits, CPP and EI on employment income. Room = 18% of last year’s earned income up to C$33,810, minus your pension adjustment, plus unused room. Ontario surtax included; health premiums and other credits are not.

Estimates for educational purposes, not financial advice.

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