Tax · Canada

RRSP tax savings.

See exactly how much an RRSP contribution will save you in tax, at your marginal rate, in your province.

Inputs

Your situation
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Annual limit is the lesser of 18% of earned income or $31,560 (2024).

Tax savings

Fill the form and press Calculate.

How an RRSP saves you tax

Every dollar you contribute reduces your taxable income by one dollar. Your tax saving is the marginal tax rate × contribution. The higher your income, the bigger the saving on each dollar — which is why RRSPs are most powerful in your top earning years.

Disclaimer

Estimates for educational purposes only. Verify your personal RRSP contribution room with the CRA before contributing — over-contributions incur penalties.