How to Use the RRSP Contribution Room Calculator
Step-by-step guide to the RRSP room calculator. Learn what earned income, pension adjustment, carry-forward, and province mean and how to interpret your refund estimate.
Estimated time: 5–10 minutes
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Enter previous year's earned income
Your RRSP room for the current year is based on your earned income from the previous tax year. Enter your total earned income (employment, self-employment, etc.) from that year. Do not include investment income, CPP, or other non-earned income.
Enter pension adjustment (PA)
If you have a pension plan, your T4 slip shows a pension adjustment in Box 52. This reduces your RRSP room. Enter that amount. If you don't have a PA, enter 0.
Enter unused carry-forward room
Your Notice of Assessment from the CRA shows your unused RRSP contribution room carried forward from previous years. Enter that amount to get your total available room.
Select your province
Your province of residence is used to estimate your marginal tax rate and thus your estimated tax refund when you enter a planned contribution. Tax rates vary by province.
Enter planned contribution (optional)
If you want to see an estimated tax refund, enter the amount you plan to contribute. The calculator multiplies this by your marginal tax rate to give an approximate refund. Actual refunds depend on your full tax return.
Read your results
You'll see total available room, new room generated (18% of income, capped at the annual maximum), and if you entered a contribution, an estimated refund. If your planned contribution exceeds your room, you'll see an over-contribution warning.
Verify with your Notice of Assessment
Your official RRSP limit is on your CRA Notice of Assessment. Use this calculator for planning; confirm with the CRA before contributing.