RRSP Refund Calculator
Educational estimate using Ontario + federal 2025 marginal brackets. Simplified (doesn’t model credits, surtaxes, CPP/EI, or other deductions).
How this works
- RRSP contributions reduce taxable income for the year you claim them.
- The value depends heavily on your marginal tax rate.
- This tool estimates tax before vs after the deduction.
Estimated impact
- Taxable income (before)
- $116,000
- Taxable income (after)
- $108,000
- Estimated tax (before)
- $29,057
- Estimated tax (after)
- $26,456
- Estimated refund change
- $2,602
- Marginal rate (approx.)
- 37.2%
- Effective rate (approx.)
- 25.0%
Real refunds can differ due to credits, surtaxes, CPP/EI, other deductions, and withholding.