Canada RRSP tax savings calculator
How much income tax an RRSP contribution saves you for 2026, using federal and provincial rates.
An estimate only. It assumes the contribution is deductible and within your RRSP room, which you can see on your CRA notice of assessment. It does not include tax payable when the money is withdrawn later. Check the CRA for your limits.
How this calculator works
An RRSP contribution is deducted from your income before tax is calculated, so the tax saved is the difference between the tax on your income with and without the deduction. The saving is roughly your combined federal and provincial marginal rate times the contribution. CPP and EI are not reduced by an RRSP, because they depend on employment earnings.
Worked example: on $85,000 in Ontario, income tax is $14,801.05. A $10,000 RRSP contribution lowers it to $11,836.05, a saving of $2,965. That is 29.65%, the 20.5% federal rate plus the 9.15% Ontario rate for that slice of income, so the contribution really costs $7,035.
Sources and checks
Our figures and rules follow these official sources:
- CRA: Tax rates and income brackets (2026)
- CRA: Payroll Deductions Formulas, 122nd edition (January 2026)
Does not include tax payable when the money is withdrawn. Check your RRSP room on your notice of assessment.
Figures last checked: 30 October 2026. Spotted a mistake? Tell us.