RRSP contribution

Contributions to a Registered Retirement Savings Plan (RRSP) are tax-deductible and reduce income tax. Contribution room carries forward if you don't contribute the maximum. This calculator estimates the tax savings of a contribution for 2026.

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RRSP contribution

RRSP = Registered Retirement Savings Plan.

Results

Contribution room$10,800.00Maximum you can contribute to a Registered Retirement Savings Plan (RRSP) without penalty (based on 18% of prior year earned income, minus pension adjustment).

Tax savings (approx.)$1,534.50Estimated tax reduction from contributing to an RRSP (contributions are tax-deductible).

RRSP room and tax savings

Contribution room is estimated at 18% of earned income (no pension adjustment or prior contributions). Tax savings = contribution × effective marginal rate (estimated from income and 2026 federal and Quebec brackets).