RRSP Tax Savings
Calculate the tax savings generated by your RRSP contributions.
| Ontario |
|
100,000
Taxable Income
Enter the taxable income amount from line 260 of your personal income tax return. |
Marginal tax rate
31.48%
|
Tax Savings |
After-Tax Amount |
| 1. |
5,000
|
$1,574 | $3,426 | |
| 2. |
10,000
|
$3,138 | $6,862 | |
| 3. |
15,000
|
$4,620 | $10,380 |
RRSP Contribution and Tax Savings
$16,000
$12,000
$8,000
$4,000
$0
Amount 1
Amount 2
Amount 3
| Tax Savings | After-Tax Amount |
Results
Tax savings for contribution 1 are $1,574, $3,138 for contribution 2 and $4,620 for contribution 3.
Tax savings for contribution 1 are $1,574, $3,138 for contribution 2 and $4,620 for contribution 3.
Assumptions
Calculations use marginal tax rates as of January 2024. Rates take all federal and provincial taxes and surtaxes into account and the basic personal tax credit. The RRSP contribution limit is $31,560 for 2024. Assumes RRSP contributions are fully deductible.
Disclaimer
This calculator is for educational purposes only. All charts and illustrations are for illustrative purposes only and are not intended to illustrate the performance of any security or portfolio. You should not rely on the results as an indication of your financial needs and we recommend that you seek your own financial, investment, tax, legal or accounting advice nor shall the information herein be considered as investment advice or as a recommendation to enter into any transaction. Professional advice should be obtained prior to acting on the basis of this information. The deduction of advisory fees, brokerage or other commissions and any other expenses that would have been paid may not be reflected in the calculation results.©Copyright 2024 Ativa Interactive Corp. All rights reserved. Powered by Ativa.com.
Calculations use marginal tax rates as of January 2024. Rates take all federal and provincial taxes and surtaxes into account and the basic personal tax credit. The RRSP contribution limit is $31,560 for 2024. Assumes RRSP contributions are fully deductible.
Disclaimer
This calculator is for educational purposes only. All charts and illustrations are for illustrative purposes only and are not intended to illustrate the performance of any security or portfolio. You should not rely on the results as an indication of your financial needs and we recommend that you seek your own financial, investment, tax, legal or accounting advice nor shall the information herein be considered as investment advice or as a recommendation to enter into any transaction. Professional advice should be obtained prior to acting on the basis of this information. The deduction of advisory fees, brokerage or other commissions and any other expenses that would have been paid may not be reflected in the calculation results.©Copyright 2024 Ativa Interactive Corp. All rights reserved. Powered by Ativa.com.
RRSP Tax Savings
Use this calculator to estimate the tax savings on your RRSP contribution.
| Where do you live? | Alberta |
| Your taxable income: | $50,000 |
| Marginal tax rate: | 32.00% |
| Amount 1 | Amount 2 | Amount 3 | |
| Contribution amount | $6,000 | $10,000 | $15,000 |
| Tax savings | $1,600 | $3,200 | $4,800 |
| After-tax cost of contribution | $3,400 | $6,800 | $10,200 |
RRSP Contribution and Tax Savings
Assumptions
Calculations use marginal tax rates as of January 2024. Rates take all federal and provincial taxes and surtaxes into account and the basic personal tax credit. The RRSP contribution limit is $31,560 for 2024. Assumes RRSP contributions are fully deductible.
Disclaimer
This calculator is for educational purposes only. All charts and illustrations are for illustrative purposes only and are not intended to illustrate the performance of any security or portfolio. You should not rely on the results as an indication of your financial needs and we recommend that you seek your own financial, investment, tax, legal or accounting advice nor shall the information herein be considered as investment advice or as a recommendation to enter into any transaction. Professional advice should be obtained prior to acting on the basis of this information. The deduction of advisory fees, brokerage or other commissions and any other expenses that would have been paid may not be reflected in the calculation results.©Copyright 2024 Ativa Interactive Corp. All rights reserved.