RRSP Calculator: See Your Remaining Contribution Room
🏦 Calculate your remaining RRSP contribution room in just a few clicks.What is RRSP contribution room, anyway?
Short answer: There's a limit to how much you can contribute to your RRSP and deduct from your income in a year. Your contribution room is how much you can contribute before hitting that limit.
Longer answer: Registered retirement savings plans, or RRSPs, are popular because they have big tax benefits.
RRSP contributions can be deducted from your annual income to reduce your tax bill, and any interest your RRSP earns is tax-exempt until you withdraw it. Pretty sweet, right?
But wait, there's more.
đź’ˇ Why contribution room matters
Maximizing your RRSP tax benefits requires knowing how much contribution room you have left, so you don't go over the annual limit. (If you over contribute, there could be costly penalties.)
The RRSP contribution limit is typically 18% of your total income earned in the previous year, up to an annual maximum limit. For 2025, that limit is $32,490 (it was $31,560 in 2024), plus any unused contribution amounts from previous years.
How to calculate RRSP contribution room the hard way
If you want to do the math on your own, here's how to calculate your RRSP contribution room:
Figure out any unused RRPS contribution room from last year.
Add 18% of last year's earned income OR the annual RRSP limit (whichever is less).
Subtract any pension adjustments from the previous year.
🤓 If you want to do things the easy way, just a) use the calculator above or b) check your most recent Notice of Assessment from the Canada Revenue Agency.
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