Canada RRSP tax savings calculator 2023
RRSP contributions reduce your annual taxable income. Use this calculator to see how different RRSP contribution amounts change your tax outcome.
Federal and Provincial tax brackets
Your taxable income places you in the following tax brackets.
| Federal tax bracket | Federal tax rates | Newfoundland and Labrador tax bracket | Newfoundland and Labrador tax rates | Prince Edward Island tax bracket | Prince Edward Island tax rates | Nova Scotia tax bracket | Nova Scotia tax rates | New Brunswick tax bracket | New Brunswick tax rates | Quebec tax bracket | Quebec tax rates | Ontario tax bracket | Ontario tax rates | Manitoba tax bracket | Manitoba tax rates | Saskatchewan tax bracket | Saskatchewan tax rates | Alberta tax bracket | Alberta tax rates | British Columbia tax bracket | British Columbia tax rates | Yukon tax bracket | Yukon tax rates | Northwest Territories tax bracket | Northwest Territories tax rates | Nunavut tax bracket | Nunavut tax rates |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| $53,359 or less | 15.00% | $41,457 or less | 8.70% | $31,984 or less | 9.80% | $29,590 or less | 8.79% | $47,715 or less | 9.40% | $49,275 or less | 14.00% | $49,231 or less | 5.05% | $36,842 or less | 10.80% | $49,720 or less | 10.50% | $142,292 or less | 10.00% | $45,654 or less | 5.06% | $53,359 or less | 6.40% | $48,326 or less | 5.90% | $50,877 or less | 4.00% |
| $53,360 to $106,717 | 20.50% | $41,458 to $82,913 | 14.50% | $31,985 to $63,969 | 13.80% | $29,591 to $59,180 | 14.95% | $47,716 to $95,431 | 14.00% | $49,276 to $98,540 | 19.00% | $49,232 to $98,463 | 9.15% | $36,843 to $79,625 | 12.75% | $49,721 to $142,058 | 12.50% | $142,293 to $170,751 | 12.00% | $45,655 to $91,310 | 7.70% | $53,360 to $106,717 | 9.00% | $48,327 to $96,655 | 8.60% | $50,878 to $101,754 | 7.00% |
| $106,718 to $165,430 | 26.00% | $82,914 to $148,027 | 15.80% | more than $63,969 | 16.70% | $59,181 to $93,000 | 16.67% | $95,432 to $176,756 | 16.00% | $98,541 to $119,910 | 24.00% | $98,464 to $150,000 | 11.16% | more than $79,625 | 17.40% | more than $142,058 | 14.50% | $170,752 to $227,668 | 13.00% | $91,311 to $104,835 | 10.50% | $106,718 to $165,430 | 10.90% | $96,656 to $157,139 | 12.20% | $101,755 to $165,429 | 9.00% |
| $165,431 to $235,675 | 29.00% | $148,028 to $207,239 | 17.80% | $93,001 to $150,000 | 17.50% | more than $176,756 | 19.50% | more than $119,910 | 25.75% | $150,001 to $220,000 | 12.16% | $227,669 to $341,502 | 14.00% | $104,836 to $127,299 | 12.29% | $165,431 to $500,000 | 12.80% | more than $157,139 | 14.05% | more than $165,429 | 11.50% | ||||||
| more than $235,675 | 33.00% | $207,240 to $264,750 | 19.80% | More than $150,000 | 21.00% | More than $220,000 | 13.16% | more than $341,502 | 15.00% | $127,300 to $172,602 | 14.70% | more than $500,000 | 15.00% | ||||||||||||||
| $264,751 to $529,500 | 20.80% | $172,603 to $240,716 | 16.80% | ||||||||||||||||||||||||
| $529,501 to $1,059,000 | 21.30% | more than $240,716 | 20.50% | ||||||||||||||||||||||||
| more than $1,059,000 | 21.80% |
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