# RRSP Calculator 2026: Tax Refund by Province > Free RRSP calculator: see how much tax an RRSP contribution saves in 2026 in your province, its real cost to you, and refunds at other amounts. Source: https://trykosh.com/tools/rrsp-calculator Free tool - RRSP, TFSA, FHSA and RESP # RRSP calculator: your tax refund Find out how much tax an RRSP contribution saves you this year, and what it really costs once the refund comes back. Rules checked 31 October 2026Free - no sign-upRuns in your browser Tax saved by your RRSP contribution $2,965 29.6% back on every dollar contributed Real cost of contributing**$7,035** Marginal rate before**29.7%** Marginal rate after**29.7%** Tax refund **$2,965**Your net cost **$7,035** Taxable income before $88,873 Taxable income after $78,873 Income tax before $17,034 Income tax after $14,069 Tax saved $2,965 Tax saved at other contribution amounts (Ontario, income $90,000) Contribution Tax saved Saved per dollar $1,000 $297 29.7% $2,500 $741 29.6% $5,000 $1,482 29.6% $10,000 $2,965 29.6% $15,000 $4,447 29.6% The refund is the drop in this year's tax. It arrives as a refund only if tax was already withheld from your pay; otherwise it reduces what you owe. ## Let Kosh do this with your real numbers. Kosh reads your statements, tracks your RRSP, TFSA and FHSA room, and tells you which account to fill first and when, so no refund or grant is left on the table. Start with a free money checkup; Kosh Pro is CA$19 a month after a 7-day free trial. [Start free](/signup?via=tool-rrsp-calculator) ## How the RRSP tax refund calculator works An RRSP contribution is deducted from your income, so it cuts your tax at your marginal rate. The calculator works out your 2026 federal and provincial tax with and without the contribution; the difference is your tax saving. If tax was already withheld from your pay, the saving comes back as a refund when you file. If you owe tax, it reduces the balance instead. Large contributions can pull your income into a lower bracket, so each extra dollar saves a little less. The table shows the saving at other amounts so you can see where that happens. ## Worked example: Daniel contributes $12,000 in Mississauga Daniel earns $110,000 in Ontario and puts $12,000 in his RRSP. His tax falls from $23,199 to $19,406, a $3,793 saving, so the contribution really costs him $8,207. His marginal rate drops from 33.9% to 30.4% as the deduction moves him down a bracket. Tax saved by your RRSP contribution $3,793 31.6% back on every dollar contributed Real cost of contributing**$8,207** Marginal rate before**33.9%** Marginal rate after**30.4%** Tax refund **$3,793**Your net cost **$8,207** Taxable income before $108,873 Taxable income after $96,873 Income tax before $23,199 Income tax after $19,406 Tax saved $3,793 The refund is the drop in this year's tax. It arrives as a refund only if tax was already withheld from your pay; otherwise it reduces what you owe. [Load this example into the calculator ->](?income=110000&contribution=12000#calculator) ## Good to know - Contributions made in the first 60 days of the year can be deducted on the previous year's return; for 2025 the deadline was March 2, 2026. - Your RRSP deduction limit is on your notice of assessment and in CRA My Account. New room is 18% of last year's earned income, up to $33,810 for 2026. - You don't have to deduct a contribution in the year you make it. Carrying the deduction forward can save more if you expect a higher income later. - Withdrawals are taxed as income, except under the Home Buyers' Plan or Lifelong Learning Plan. ## Frequently asked questions How much tax refund will I get from my RRSP? Roughly your marginal tax rate times the contribution. In Ontario at $110,000 of income, a $12,000 contribution saves about $3,793 in 2026. Enter your own numbers above. Is an RRSP worth it at a low income? The saving is small when your marginal rate is low, and withdrawals may be taxed at a higher rate later. Many people with lower incomes favour a TFSA and keep RRSP room for higher-income years. What happens if I contribute too much? You can go up to $2,000 over your limit without penalty. Beyond that, the CRA charges 1% a month on the excess until it's removed. ## Sources and assumptions - [CRA: RRSPs and related plans](https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/rrsps-related-plans.html) - [CRA: How contributions affect your RRSP deduction limit](https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/rrsps-related-plans/contributing-a-rrsp-prpp/contributions-affect-your-rrsp-prpp-deduction-limit.html) - [CRA: RRSP, TFSA and other registered plan limits](https://www.canada.ca/en/revenue-agency/services/tax/registered-plans-administrators/pspa/mp-rrsp-dpsp-tfsa-limits-ympe.html) Rules and rates last checked on 31 October 2026. Results are estimates for planning and education, not tax, legal or investment advice. Kosh is an educational financial planning tool by Primedepth Labs. It is not registered with any Canadian securities regulator as an adviser or dealer, does not recommend specific securities, and does not hold your money or execute trades. Tax figures are estimates; confirm with the CRA or a qualified professional before acting. Investing carries risk.