RRSP Tax Refund Calculator 2026
The tax refund an RRSP contribution gives you for 2026 in your province, worked out by running your whole tax bill with and without it.
Result
Tax refund: CA$1,632.50Estimate
You get the refund only if tax was withheld from your pay. Check your deduction limit on your CRA notice of assessment.
- Refund as a share of the contribution
- 32.65%Estimate
- Cost of the contribution after the refund
- CA$3,367.50Estimate
- Income tax without the contribution
- CA$12,704.66Estimate
- Income tax with the contribution
- CA$11,072.16Estimate
https://calcgallery.com/retirement-planning/rrsp-tax-refund-calculator/
Results are arithmetic on the returns, rates and horizons you enter, not a forecast and not investment, tax or retirement advice. The site supplies no expected return, inflation rate, contribution limit, tax rate or withdrawal rate. Real returns vary from year to year, and fees, taxes and the order of returns all change the outcome. Check anything that matters with a qualified adviser. Read the full disclaimer
How to use the RRSP Tax Refund Calculator 2026
- Pick your province or territory and enter your employment income for 2026.
- Enter the RRSP contribution you plan to deduct for 2026.
- Read the refund, what it is as a share of the contribution, and what the contribution really costs after the refund.
With and without
A deduction saves tax at whatever rate the last dollars of your income are taxed at, which in Canada changes with health premiums, surtaxes and credit phase-outs as well as brackets. So the page doesn’t use a single rate. It runs the full calculation from the Canada income tax calculator twice.
refund = income tax without the contribution − income tax with itrate = refund ÷ contributionnet cost = contribution − refundCPP and EI don’t change with an RRSP contribution, so they are left out of the comparison.
With your numbers
- The refund is your 2026 income tax without the contribution less your income tax with it
Quick reference
You get the refund only if tax was withheld from your pay. Check your deduction limit on your CRA notice of assessment.
| Example | Tax refund |
|---|---|
| Ontario, $75,000, $5,000 | CA$1,632.50 |
| BC, $100,000, $10,000 | CA$2,820.00 |
| Alberta, $150,000, $20,000 | CA$7,200.00 |
| Ontario, $50,000, $3,000 | CA$721.50 |
| Nova Scotia, $90,000, $8,000 | CA$2,973.60 |
| Saskatchewan, $60,000, $5,000 | CA$1,382.34 |
Where the numbers come from
The fixed figures this calculator relies on, and the published source each one was checked against. How the calculators are built and checked
9 sources
CRA, T4127 Payroll Deductions Formulas, 122nd edition (January 2026), https://www.canada.ca/en/revenue-agency/services/forms-publications/payroll/t4127-payroll-deductions-formulas/t4127-jan/t4127-jan-payroll-deductions-formulas-computer-programs.html, Table 8.1
Used for
- Federal: taxable income above this is taxed at 20.5%.
- Federal: taxable income above this is taxed at 26%.
- Federal: taxable income above this is taxed at 29%.
- Federal: taxable income above this is taxed at 33%.
- Federal rate of bracket 2; the lowest rate is also the credit rate.
- Federal rate of bracket 3; the lowest rate is also the credit rate.
- Federal rate of bracket 4; the lowest rate is also the credit rate.
- Federal rate of bracket 5; the lowest rate is also the credit rate.
CRA, T4127 Payroll Deductions Formulas, 122nd edition (January 2026), https://www.canada.ca/en/revenue-agency/services/forms-publications/payroll/t4127-payroll-deductions-formulas/t4127-jan/t4127-jan-payroll-deductions-formulas-computer-programs.html, Table 8.1: "For 2026 and subsequent tax years, the lowest federal tax bracket will be 14%"
Used for
- Federal rate of bracket 1; the lowest rate is also the credit rate.
CRA, T4127 Payroll Deductions Formulas, 122nd edition (January 2026), https://www.canada.ca/en/revenue-agency/services/forms-publications/payroll/t4127-payroll-deductions-formulas/t4127-jan/t4127-jan-payroll-deductions-formulas-computer-programs.html, BPAF formula
Used for
- Federal basic personal amount for net income up to the 29% bracket.
- Federal basic personal amount at net income of the 33% bracket or more.
CRA, T4127 Payroll Deductions Formulas, 122nd edition (January 2026), https://www.canada.ca/en/revenue-agency/services/forms-publications/payroll/t4127-payroll-deductions-formulas/t4127-jan/t4127-jan-payroll-deductions-formulas-computer-programs.html, K4 and Table 8.2
Used for
- Canada employment amount.
CRA, T4127 Payroll Deductions Formulas, 122nd edition (January 2026), https://www.canada.ca/en/revenue-agency/services/forms-publications/payroll/t4127-payroll-deductions-formulas/t4127-jan/t4127-jan-payroll-deductions-formulas-computer-programs.html, Table 8.3
Used for
- CPP employee contribution rate (base 4.95% + first additional 1%).
- CPP year’s maximum pensionable earnings.
- CPP basic exemption.
CRA, T4127 Payroll Deductions Formulas, 122nd edition (January 2026), https://www.canada.ca/en/revenue-agency/services/forms-publications/payroll/t4127-payroll-deductions-formulas/t4127-jan/t4127-jan-payroll-deductions-formulas-computer-programs.html, Table 8.4
Used for
- CPP base contribution rate, the part that earns a tax credit.
CRA, T4127 Payroll Deductions Formulas, 122nd edition (January 2026), https://www.canada.ca/en/revenue-agency/services/forms-publications/payroll/t4127-payroll-deductions-formulas/t4127-jan/t4127-jan-payroll-deductions-formulas-computer-programs.html, Table 8.6
Used for
- CPP2 year’s additional maximum pensionable earnings.
- CPP2 rate on earnings between YMPE and YAMPE.
CRA, T4127 Payroll Deductions Formulas, 122nd edition (January 2026), https://www.canada.ca/en/revenue-agency/services/forms-publications/payroll/t4127-payroll-deductions-formulas/t4127-jan/t4127-jan-payroll-deductions-formulas-computer-programs.html, Table 8.7
Used for
- EI employee premium rate outside Quebec.
- EI maximum insurable earnings.
CRA, T4127 Payroll Deductions Formulas, 122nd edition (January 2026), https://www.canada.ca/en/revenue-agency/services/forms-publications/payroll/t4127-payroll-deductions-formulas/t4127-jan/t4127-jan-payroll-deductions-formulas-computer-programs.html, Tables 8.1 and 8.2; T4127 123rd edition (July 2026) for BC, NL and PE
Used for
- Rows in the provincial and territorial tax table (Quebec excluded). Verifying this verifies every rate, threshold and basic amount in src/data/canada-tax-tables.ts.
Common questions about the RRSP Tax Refund Calculator 2026
- How is the RRSP refund worked out?
- The page works out your whole 2026 federal and provincial income tax twice, once without the contribution and once with it deducted, and the refund is the difference. That catches things a marginal-rate table misses, such as the Ontario Health Premium falling to a lower step.
- Why is my refund more than my bracket rate times the contribution?
- Because a deduction can also lower income-tested amounts. In Ontario, a deduction that takes taxable income below a health premium step saves the premium too. Where a contribution crosses into a lower bracket, the refund is a blend of the two rates.
- When does the refund arrive?
- When you file your 2026 return in spring 2027. Contributions made in the first 60 days of 2027 can also be deducted for 2026. You can instead ask your employer to withhold less tax during the year with form T1213.
- How much can I contribute?
- Up to your RRSP deduction limit, shown on your latest notice of assessment: 18% of last year's earned income up to the annual maximum, plus unused room carried forward, less pension adjustments.