How much tax will my RRSP contribution save?
Roughly your contribution multiplied by your marginal tax rate: the rate on your last dollar of income. The estimate holds as long as the whole deduction comes off income taxed at that rate.
The rate shown is an example. Your accountant can confirm your marginal rate.
Common questions
What's my deadline?
Contributions made in the first 60 days of the year can be deducted on the previous year's return.
Do I have to deduct it this year?
No. You can carry the deduction forward to a year when your rate is higher.
How much can I contribute?
Your RRSP deduction limit is on your latest notice of assessment.
A refund is a starting point.
Whether to deduct now or later, and where the refund goes next, is worth 30 minutes.
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Open →Figures as at November 2026. Sources: Canada Revenue Agency, Service Canada, Income Tax Act.
Illustrative arithmetic only. Figures set by legislation can change; verify current rules before relying on any result. Educational only. Not tax, legal, or investment advice. Confirm with your accountant before acting. Mutual Funds and Segregated Funds provided by the Fund Companies are offered through Worldsource Wealth Management Inc., sponsoring mutual fund dealer. Other Products and Services are offered through David Creighton, Lindsay Smith, John Creighton, Matthew Smith, Darroll Powe, and Creighton Financial Group.