RRSP Tax Savings Calculator

    See how much an RRSP contribution could reduce your tax bill, in any province or territory.

    Provincial and territorial rates differ, so the same contribution saves different amounts.

    $
    $20,000$5,000,000

    Employment income before RRSP deduction

    $
    $0$100,000

    2026 limit: $33,810 or 18% of previous year income

    $
    $0$1,000,000

    For withdrawal tax rate comparison

    Immediate Tax Savings

    $2,965

    Net Cost of Contribution

    $7,035

    Current Marginal Tax Rate (Ontario)

    29.65%

    Expected Retirement Tax Rate

    19.05%

    Tax Deferral Advantage

    $1,060

    Maximum Contribution (2026)

    $15,300

    Net Cost of Contribution$7,035
    Current Marginal Tax Rate (Ontario)29.65%
    Expected Retirement Tax Rate19.05%
    Tax Deferral Advantage$1,060
    Maximum Contribution (2026)$15,300

    Federal figures checked October 5, 2026 against the Canada Revenue Agency.

    Ontario figures checked October 5, 2026 against the Canada Revenue Agency.

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    Rate source: CRA 2026 federal rates and RRSP limits; each province and territory’s published 2026 rates
    Data from Official Sources:CRA