RRSP Contribution Limit Calculator 2026

Contributions for the 2025 tax year had to be made by March 2, 2026 — the “first 60 days” rule means you have 60 days after year-end. For the 2026 tax year, the deadline is March 1, 2027. Contributions made in the first 60 days of a year can be applied to either the previous tax year or the current one. See CRA: Contributing to an RRSP.

For 2026, your RRSP contribution room is the lesser of 18% of your 2025 earned income or the annual dollar cap of $33,810 — whichever is lower. To contribute the full $33,810 you'd need about $187,833 of 2025 earned income. On top of that, you can add any unused room carried forward from previous years.

Your room equals 18% of your prior-year earned income (capped at the annual dollar limit), plus any unused contribution room carried forward from past years, minus a pension adjustment if you belong to a workplace pension plan. The CRA tracks this and reports your exact deduction limit on your Notice of Assessment and in CRA My Account.

Yes. Any RRSP room you don't use carries forward indefinitely and is added to your limit in future years. This lets you 'save up' room for a year when your income — and marginal tax rate — is higher, so the deduction is worth more.

There's a $2,000 lifetime over-contribution buffer that isn't penalized (but isn't deductible either). Beyond that buffer, excess contributions are taxed at 1% per month until withdrawn. Unlike a TFSA, the RRSP buffer is a one-time lifetime cushion, not an annual one.

Yours. When you contribute to a spousal RRSP (in your partner's name), it uses your contribution room, not theirs — but your spouse owns the funds. It's a tool for income-splitting in retirement, since withdrawals are generally taxed in the lower-income spouse's hands (subject to the 3-year attribution rule).

Your contribution reduces taxable income, so the tax you save equals the contribution multiplied by your marginal rate — not your average rate, because the deduction comes off your top dollars first. Contribute $10,000 in a 30% combined bracket and you save about $3,000. The higher your income, the more each dollar of contribution is worth.

Not always. The saving is the reduction in your total tax bill. Whether it arrives as a refund cheque depends on how much tax was already withheld from your pay. If your employer withheld tax as though you hadn't contributed, the saving comes back as a refund. If you reduced your withholding, or you're self-employed, it reduces your balance owing instead.

Contributing in a higher-income year gives a bigger deduction, because your marginal rate is higher. Some people deliberately carry unused room forward to a year when their rate will be higher, so the deduction is worth more. The flip side is that you'll pay tax on withdrawals later — an RRSP works best when your rate now is higher than it will be in retirement.

Yes. Your marginal rate is the combined federal and provincial rate, and provinces have different brackets. The same $10,000 contribution saves a different amount in Ontario than in Alberta or BC. The calculator applies the verified brackets for the province you select.

Broadly: an RRSP gives a tax deduction now and is taxed on withdrawal, so it favours people whose tax rate is higher now than it will be in retirement. A TFSA gives no deduction but is tax-free on withdrawal and doesn't affect income-tested benefits like OAS or GIS. Many people use both. Lower-income earners often favour the TFSA; higher earners often favour the RRSP deduction.