RRSP · Retirement Savings

Plan your RRSP and tax 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

Room shown on your latest NOA

CRA My Account → 'RRSP deduction limit'.Contributed since that snapshot

Any RRSP contributions made since the NOA was issued.

What if I contribute…

Optional

Planned additional contribution

Counts for this tax year if made by March 1, 2027.Your marginal tax rate

Room available

$15,000 CAD

As of 2026

Estimated tax refund

$0 CAD

at 30% marginal rate

Room left after plan

$15,000 CAD

Deadline

Mar 1

2027

Monthly to max

$1,667 CAD

To hit your full room by deadline

How the refund works

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. If you contribute the full $15,000 CAD at 30%, you'd get back about $4,500 CAD.

Informational only — verify your numbers at CRA My Account before contributing.