RRSP refund estimator
Estimate the 2026 tax saving from an RRSP deduction using your province and income, with bracket crossings, credits and surtaxes included.
A guide, not advice.
This page explains general rules. Do your own research, confirm your numbers with the CRA (your My Account and Notice of Assessment are the official record) or the other official sources listed at the end, and talk to a qualified professional before acting.
RRSP refund estimator
Compares 2026 annual tax before and after your RRSP deduction, including bracket crossings, basic personal amounts, Ontario surtax and health premium, BC and Ontario tax reductions, and the Quebec abatement.
Use income after other deductions. Claim no more than your CRA RRSP deduction limit. The model assumes net income equals taxable income before this deduction. Savings reduce tax owing; your cash refund also depends on tax already withheld.
Deduction limit and other credits
Credit reductions are dollars of tax, not claim amounts, and stay fixed in both scenarios. In employment mode the CPP/QPP, EI, QPIP and Canada employment amount credits are already included, so enter only other credits here.
- Average savings rate
- 29.65%
- Tax before deduction
- $12,382
- Tax after deduction
- $10,900
Not modelled: dependant and age credits, other provincial tax reductions, refundable benefits and clawbacks, alternative minimum tax, and Quebec health and drug-plan premiums. Those need a full tax return.
Plain English
Pick your province, enter your income and the RRSP amount you plan to deduct. The calculator works out your income tax twice, once without the deduction and once with it, and shows the difference. That difference is what the deduction saves you. If your employer already withheld more tax than you owe, the saving shows up as a refund; otherwise it reduces what you pay in April.
Show the math
Savings = tax(income) − tax(income − deduction). Each tax figure applies the verified 2026 federal and provincial brackets to taxable income, subtracts the basic personal amount credit at the lowest rate (including the federal and Yukon phase-out above $181,440 and the Manitoba phase-out above $200,000), then adds the Ontario surtax on basic Ontario tax above $5,818 and $7,446, the Ontario Health Premium, and the Ontario and BC basic tax reductions. Quebec federal tax is reduced by the 16.5% abatement. In gross employment mode, CPP/QPP, EI, QPIP and the Canada employment amount are derived from CRA T4127 constants: the enhanced CPP/QPP portion is deducted from income, the rest become non-refundable credits at the lowest rate, and Quebec employees also get the 6% deduction for workers (maximum $1,420) against Quebec income.
Worked examples
| Input | Output |
|---|---|
| Ontario, $90,000 taxable income, $5,000 deduction | Saves $1,483 (29.65% of the deduction): tax $18,462 before, $16,980 after |
| Ontario, $35,000 taxable income, $2,000 deduction | Saves $381 (19.05% of the deduction): tax $4,008 before, $3,627 after |
| Ontario, $230,000 taxable income, $20,000 deduction | Saves $9,809 (49.04% of the deduction): tax $79,507 before, $69,698 after |
| Quebec, $70,000 taxable income, $5,000 deduction | Saves $1,806 (36.12% of the deduction): tax $14,812 before, $13,006 after |
| British Columbia, $60,000 taxable income, $10,000 deduction crossing a federal bracket | Saves $2,258 (22.58% of the deduction): tax $9,015 before, $6,757 after |
What this does not account for
Dependant, age, disability, medical, tuition and donation credits; other provincial tax reductions and low-income credits; refundable benefits and clawbacks such as the Canada Child Benefit and OAS recovery tax; alternative minimum tax; Quebec health and prescription-drug premiums; pension adjustments and your actual RRSP deduction limit unless you enter it; and any other income or deductions on your return.
Keep exploring
Where this information comes from
This page is based on publications from the CRA, Revenu Québec and the Department of Finance Canada, last checked against them on . The full list is below, and the official source always takes precedence over anything written here.
It is a general guide, not financial, tax or legal advice. Do your own research, confirm your own numbers in CRA My Account or with the official source, and talk to a qualified professional before making a decision. Canadian Financials is independent and is not affiliated with or endorsed by the CRA or any government.
Spotted an error? Email [email protected] and it will be corrected and noted in the changelog.
Sources & references
- Tax rates and income brackets for individuals — CRA CRA
- Income tax rates and income thresholds — CRA payroll deductions CRA
- CRA 2026 payroll formulas and basic personal amounts CRA
- CRA July 2026 updates (annual rates used, not prorated withholding rates) CRA
- Revenu Québec 2026 rates
- Revenu Québec 2026 personal amounts
- Department of Finance — Quebec abatement