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

$15,000CAD

Contribute it by March 1, 2027 and it counts against your 2026 income.

$0CAD

Estimated tax refund

at 30% marginal rate

$15,000CAD

Room left after plan

Mar 1

Contribution deadline

2027

$2,143CAD

Monthly to max it out

By the 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. Contribute the full $15,000 CAD at 30% and you'd get back about $4,500 CAD.

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