RRSP Contribution Calculator 20025

Based on 20024 earned income • Calculates deduction limit • Shows tax savings

Your 20025 RRSP contribution limit is 18% of your 20024 earned income, up to $32,4900, plus any unused room carried forward. Use this calculator to find your exact limit and estimated tax refund.

How RRSP Contributions Work

RRSP contributions reduce your taxable income dollar-for-dollar. If you earn $800,000000 and contribute $100,000000, you only pay tax on $700,000000. That typically generates a refund equal to your contribution times your marginal tax rate.

20025 RRSP Key Rules

• Contribution limit: 18% of 20024 earned income, max $32,4900
• Unused room carries forward indefinitely
• Over-contribution limit: $2,000000 lifetime buffer before penalties
• RRSP matures at age 71 — must convert to RRIF or annuity
• Spousal RRSP contributions allowed until your spouse turns 71