How much RRSP room do you have, and what will it refund?
The RRSP dollar limit for 2026 is $33,810: your new room is 18% of your 2025 earned income, up to that cap, plus any unused room carried forward. Contributions made by March 1, 2027 can still be deducted on your 2026 return. The exact figure is the "RRSP deduction limit" on your latest Notice of Assessment.
Every tax year's RRSP deadline and dollar limit in one table →
Start from the deduction limit on your Notice of Assessment. Results update as you type: the deadline countdown, the refund bracket by bracket for your province, and next year's room.
Your room
For the refund
Contribute by March 1, 2027 and it can be deducted on your 2026 return.
The 2026 deadline
What $10,000 could save in tax
Room for 2027
How RRSP contribution room works
- New room each year is 18% of the previous year's earned income, up to an annual maximum of $33,810 for 2026, minus any pension adjustment from a workplace plan.
- Unused room carries forward indefinitely. The "RRSP deduction limit" on your latest Notice of Assessment already includes it.
- Contributions made in the first 60 days of the year can be deducted on either the previous year's return or the current one. For the 2026 tax year the deadline is March 1, 2027.
- You can over-contribute by a lifetime cushion of $2,000 without penalty. Anything beyond that is taxed at 1% per month.
- A contribution and its deduction are separate decisions: you can contribute now and carry the deduction forward to a higher-income year.
- An RRSP must be converted to a RRIF or annuity, or withdrawn, by December 31 of the year you turn 71.
Source rules: CRA: RRSP contribution limits · Last updated
How your RRSP limit is worked out: an example
Your new room each year is 18% of last year's earned income, capped at the year's dollar limit and reduced by any pension adjustment from a workplace plan.
| 2026 | |
|---|---|
| 2025 earned income | $80,000 |
| 18% of that | $14,400 |
| 2026 dollar limit | $33,810 |
| New room (the lower of the two, before any pension adjustment) | $14,400 |
| Unused room carried forward from earlier years | $6,000 |
| 2026 RRSP deduction limit | $20,400 |
You only reach the 2026 cap if your 2025 earned income was $187,834 or more ($33,810 ÷ 18%). For 2027 the dollar limit is $35,390, so the cap is reached at $196,612 of 2026 earned income.
If you belong to a workplace pension, your pension adjustment (box 52 of your T4) comes off the new room. That's why the Notice of Assessment figure is more reliable than any estimate, including this calculator's.
The $2,000 cushion, and what happens past it
CRA lets your RRSP contributions exceed your deduction limit by a lifetime $2,000 without penalty. You can't deduct that $2,000 until new room arrives, but it does grow tax-sheltered in the meantime. Above $2,000, the excess is taxed at 1% per month until you withdraw it or new room absorbs it.
Example: your deduction limit is $20,400 and you contribute $23,400. The excess is $3,000. The first $2,000 is covered by the cushion, and the other $1,000 is taxed at 1%, or $10 a month, until new room arrives to cover it. The calculator above flags this as soon as your planned contribution passes your limit.
RRSP questions, answered
What is the RRSP contribution limit for 2026?
For 2026 the maximum new RRSP room is $33,810, or 18% of your 2025 earned income if that is lower. Your personal limit also includes unused room carried forward from earlier years, and is reduced by any pension adjustment.
When is the RRSP deadline for the 2026 tax year?
March 1, 2027. Contributions made from January 1 to March 1, 2027, the "first 60 days", can be deducted on your 2026 return or carried to a later year; contributions after it count toward 2027. The deadline is the 60th day of the year: February 29 in a leap year, and moved to the next business day when it falls on a weekend.
How much tax refund does an RRSP contribution give me?
Roughly your contribution multiplied by your marginal tax rate, because the deduction removes that income from the top of your return. Someone at a 40% combined federal and provincial marginal rate who contributes $10,000 lowers their tax by about $4,000. Enter your marginal rate in the calculator for the estimate.
Where do I find my RRSP deduction limit?
On your most recent Notice of Assessment from CRA, or in CRA My Account under RRSP and TFSA. That figure already includes unused room from previous years.
Can I over-contribute to my RRSP?
There is a lifetime $2,000 buffer above your deduction limit that is not penalised (though it is not deductible until you have room). Beyond that, CRA charges 1% per month on the excess.
Related calculators and guides
Looniee keeps your RRSP room, the first-60-days split and Home Buyers' Plan repayments together with the holdings inside the account. Create a free account or try the live demo.
Informational only — verify your numbers at CRA My Account before contributing.