How much RRSP contribution room do you have, and what will it refund?
Start with the room CRA already showed you on your latest Notice of Assessment, then add anything you've contributed since. We'll estimate your refund at your marginal rate.
Your room
What if I contribute…
OptionalContribute it by March 1, 2027 and it counts against your 2026 income.
Every dollar you contribute reduces your taxable income by the same amount. Your refund is roughly the contribution times your marginal rate — money you can reinvest, pay down debt, or put back into the RRSP next year. Contribute the full $15,000 CAD at 30% and you'd get back about $4,500 CAD.
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 2025 tax year the deadline is March 1, 2026.
- 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- An RRSP must be converted to a RRIF or annuity, or withdrawn, by December 31 of the year you turn 71.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
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 2025 tax year?
March 1, 2026. Contributions made on or before that date can be deducted on your 2025 return; contributions after it count toward 2026.
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
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.