The Toonie | Updated 2025

How Much Should I Add To My RRSP?

How much you should add to your RRSP depends on your income and the tax you paid. Generally speaking, you should fill your TFSA first (and your FHSA if you want to buy a house). After that, use your RRSP to avoid paying high tax rates.

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This calculator is meant for people with standard employment income and makes basic assumptions to simplify results. If you're self-employed, own a business, or have other sources of income, your tax situation will be different.

Two things to keep in mind:

There's a limit to how much you can add. The limit is 18% of your income last year, up to $31,560 (for 2024). You might be contributing to an RRSP through your employer, that also counts towards this limit. You might have extra room from past years, check your CRA account.

It's best to use an RRSP for money in high tax brackets. Contribute the money you earn in high tax brackets for the biggest savings. You can always contribute less one year and save the room for a future year when you earn more.