RRSP Calculator

Calculate your RRSP tax savings and see the true cost of your contribution.

Annual Income ($)

RRSP Contribution ($)

Marginal Tax Rate (%)

Your marginal tax rate is the tax on your last dollar earned (typically 20-50% depending on income).

How RRSP Tax Savings Work

When you contribute to an RRSP, you reduce your taxable income. This means you pay less tax for the year, and you'll receive a refund based on your marginal tax rate.

Example: If you earn $75,000 and contribute $10,000 to your RRSP, your taxable income becomes $65,000. If your marginal tax rate is 30%, you'll save $3,000 in taxes.

Pro tip: Reinvest your tax refund back into your RRSP to maximize growth!