What is the annual RRSP contribution limit?

Your annual RRSP limit is 18% of your earned income from the prior year, up to the CRA annual dollar cap ($31,560) plus any accumulated unused room.

What happens if I over-contribute to my RRSP?

The CRA allows a lifetime over-contribution buffer of $2,000. Any excess beyond $2,000 is subject to a 1% per month penalty tax until withdrawn.

CanadaRRSP Contribution & Tax Refund (18% Limit)Finance

Canada RRSP Contribution Limit, Tax Savings & Refund Calculator

Calculate your maximum Registered Retirement Savings Plan (RRSP) contribution limit (18% of prior year earned income up to $31,560), immediate income tax refund, and long-term tax-deferred retirement wealth.

Retraite et Pensions Épargne et Dépôts Impôts et Taxes

Données du Simulateur

En temps réel

Previous Year Earned Income (CAD $)

CAD $

Sélection rapide :

Planned RRSP Contribution Amount (CAD $)

CAD $

Sélection rapide :

Your Combined Marginal Tax Rate (Federal + Provincial %)37.9 %

20 %54 %

Résultat CalculéRRSP Contribution & Tax Refund (18% Limit)

Estimated Instant Income Tax Refund Cheque

4,548CAD $

Annual New RRSP Contribution Room Created (18% Cap)

16,200 CAD $

True Net Out-of-Pocket Cost of Your Contribution

7,452 CAD $

Détail du Calcul

RRSP Deposit

12,000 CAD $

Max Room (18%)

16,200 CAD $

Tax Refund Cheque

4,548 CAD $

Net Cost

7,452 CAD $

Méthodologie de Calcul

Max Annual Room = min(Earned Income * 18%, $31,560). Tax Refund = RRSP Contribution * Combined Marginal Tax Rate%.

Avertissement Légal et Pédagogique

Unused RRSP contribution room carries forward indefinitely. Over-contributing by more than $2,000 incurs a 1% per month penalty tax.

Ce simulateur est conçu à des fins éducatives et informatives. Les résultats ne constituent pas un conseil financier, fiscal ou juridique contraignant.

Foire Aux Questions

You can contribute to your RRSP within the first 60 days of the calendar year (usually March 1 or 2) and deduct it against the previous tax year's income.

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