RRSP Deadline 2026: The $3,000 Move That Could Save You $900+ Before March 2
The RRSP contribution deadline is exactly 12 days away—March 2, 2026. If you haven’t maxed out your 2025 RRSP contribution room, you’re leaving free money on the table.
The Numbers You Need to Know for 2026
For the 2025 tax year (contributions due March 2, 2026):
- Maximum RRSP contribution: $32,490 (or 18% of your 2025 earned income, whichever is lower)
- The CRA allows you to carry forward unused contribution room from previous years
For the 2026 tax year:
- The new maximum contribution limit is $33,810—up $1,320 from 2025
Why This Matters: The Tax Impact
Here’s where it gets interesting. The actual tax savings depends on your marginal tax rate:
| Income Level | Marginal Tax Rate | $3,000 Contribution Saves |
|---|---|---|
| $50,000 | 20.5% | $615 |
| $75,000 | 25.5% | $765 |
| $100,000 | 36% | $1,080 |
| $150,000 | 43% | $1,290 |
Source: Canada Revenue Agency
Even a modest $3,000 contribution could mean $600+ back in your pocket come tax season.
3 Concrete Actions You Can Take TODAY
1. Check Your Available Room
Log into your CRA My Account and click “RRSP” to see your unused contribution room. If you have room from 2020-2024 that you never used, you can still contribute now.
2. The “RRSP Loan” Strategy (For High-Income Earners)
If you have zero contribution room but want in on the tax deduction, consider an RRSP loan. With rates around 6-8% from major banks, the math still works if you’re in a high tax bracket. A $10,000 loan at 7% costs $700 in interest—but a $10,000 deduction saves $3,600+ in taxes for someone earning $150K.
However, proceed with caution. The 2026 market outlook is uncertain, and carrying debt is always risky.
3. The Spousal RRSP Play
If you’re the higher-income partner, contributing to a spousal RRSP splits income for tax purposes. Contribute $10,000 to your spouse’s RRSP, and you both save—their lower tax rate means less tax overall on withdrawals in retirement.
My Take
I’ve been contributing to my RRSP consistently for years, and honestly? The tax refund is nice, but the real power is the compound growth. A $10,000 contribution at 7% average return becomes $38,000 in 20 years.
The key insight: Don’t view RRSP contributions as “losing” money until tax time. View it as forced savings that happen to come with a tax bonus.
Action step: Spend 10 minutes today logging into your bank or CRA account. Check your room. If you have $1,000+ of unused room, set up an automatic contribution for next week. Your March self will thank you.
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