Ontario RRSP Calculator for 2026
Estimate how much an RRSP contribution could reduce your 2026 Ontario income tax, how much you may get back, and what reinvesting that estimated refund could become over time.
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Estimated result
Based on 2026 federal and Ontario marginal tax brackets.
Estimate only. Actual tax results depend on credits, deductions, payroll withholding, Ontario surtax, health premium, family benefits, pension adjustments, and other factors. Confirm your RRSP deduction limit through CRA My Account or your latest Notice of Assessment.
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How the 2026 Ontario RRSP refund estimate works
RRSP contributions can generally be deducted from taxable income, subject to your available deduction limit. Because Canada uses progressive tax brackets, the tax value of a deduction depends on your income and can change when the deduction crosses a federal or Ontario tax-bracket threshold.
This calculator compares estimated federal and Ontario bracket tax before and after the RRSP deduction. For 2026, the lowest federal bracket is 14% up to $58,523, while Ontario's first provincial bracket is 5.05% up to $53,891. Higher portions of income are taxed at higher rates.
What does a $5,000 or $10,000 RRSP contribution do?
The answer depends on your taxable income. A person whose deduction falls entirely within a higher marginal bracket can receive more tax savings per dollar than someone in a lower bracket. If a contribution crosses a bracket, different parts of the deduction can produce different savings.
| Example | Try in calculator |
|---|---|
| $70,000 income | $5,000 RRSP |
| $100,000 income | $10,000 RRSP |
| $150,000 income | $15,000 RRSP |
These are scenarios to explore, not promised refund amounts. Enter your own numbers above for an estimate.
Why your actual tax refund may be different
A tax refund is the final balance of your return, not simply your RRSP deduction multiplied by one tax rate. Payroll withholding, tax credits, other deductions, Ontario surtax, the Ontario Health Premium, pensions, benefits and other circumstances can change the final amount.
For that reason, the green result above should be treated as an estimated income-tax reduction from the RRSP deduction, not a guaranteed CRA refund.
Ontario RRSP calculator FAQ
How much tax do I get back from an RRSP contribution in Ontario?
There is no single percentage for everyone. The value depends primarily on the tax brackets affected by your deduction and your overall tax situation. Enter your taxable income and intended contribution above to estimate the bracket-based reduction.
Does an RRSP contribution reduce taxable income?
An RRSP contribution that you are entitled to deduct can reduce taxable income. You can also have unused contributions or choose to deduct eligible contributions in a later year, subject to CRA rules and your deduction limit.
Where do I find my RRSP deduction limit?
Check CRA My Account or your latest Notice of Assessment or Reassessment. Do not assume the amount you want to contribute is within your available limit.
Is an RRSP always better than a TFSA?
No. RRSPs provide a tax deduction now and withdrawals are generally taxable later, while TFSA contributions are not deductible and qualifying withdrawals are tax-free. Income, tax rate, employer plans, goals and expected future tax rate can all affect the decision.
Should I reinvest my RRSP tax refund?
Reinvesting a refund can increase the amount growing for your future, which is why this calculator shows a hypothetical future value. The projection is illustrative and depends on the return and time period you select.
2026 tax information used
We use published 2026 federal and Ontario income-tax brackets for the bracket-based estimate. The calculator intentionally stays simple, so it does not attempt to reproduce a complete personal income-tax return.
- CRA: federal, provincial and territorial tax rates and brackets
- CRA: 2026 Ontario payroll deductions tables and tax thresholds
Last reviewed: August 2026. Built by Matelacom Inc., an Ontario technology company. This page is an educational planning tool, not financial or tax advice.
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