RRSP Calculator
🔒 Runs in your browser — 100% private
Calculate your RRSP contribution room and estimated immediate tax refund online for free from your earned income, planned contribution and marginal tax rate. Runs entirely in your browser — nothing you enter is uploaded.
RRSP room is 18% of last year's earned income, capped at the CRA's annual dollar limit (indexed yearly — verify the current figure at canada.ca before relying on this). Your marginal rate combines federal and your specific province's tax — look up your own combined rate, since provincial brackets vary too much to build in here.
How to use rrsp calculator
- Enter last year's earned income and the CRA dollar limit
Your contribution room is 18% of earned income, capped at the CRA's current annual dollar limit — look that limit up at canada.ca since it's indexed yearly.
- Enter your planned contribution and marginal tax rate
How much you're planning to contribute this year, and your combined federal + provincial marginal tax rate.
- Calculate
See your available room and estimated immediate tax refund.
Formula & methodology
Contribution room = min(18% × last year's earned income, CRA annual dollar limit). Eligible contribution = min(planned contribution, room). Estimated immediate tax refund = eligible contribution × combined marginal tax rate.
Example: $90,000 earned income, $32,490 CRA limit, $10,000 planned contribution, 30% combined marginal rate — room is min(16,200, 32,490) = $16,200, your $10,000 fits within it, giving an estimated refund of $3,000.
Features
Rates and thresholds are inputs you can change, not hidden constants.
Calculates locally with no sign-up or server request.
Your financial details are never uploaded.
Supported formats and limitations
Text and structured input supported by this tool.
Use cases include personal workflows, content preparation, and quick checks. Review output before relying on it for legal, financial, accessibility, or production decisions.
Frequently asked questions
How is RRSP contribution room calculated?
18% of your previous year's earned income, up to the CRA's annual dollar limit (indexed each year) — plus any unused room carried forward from prior years, which this simple calculator doesn't track for you.
Is the tax refund guaranteed?
No — an RRSP contribution reduces your taxable income, which typically produces a refund (or reduces tax owed) at your marginal rate, but your actual refund depends on your full tax return, not just this one contribution.
What happens if I contribute more than my room?
Over-contributions beyond a small buffer (currently $2,000 lifetime) are subject to a 1%/month penalty tax by the CRA — the tool flags when your planned contribution exceeds your calculated room.