⚡ Key Dates at a Glance
March 3, 2026RRSP contribution deadline for the 2025 tax year — the last day to make contributions that can be deducted from your 2025 income.
April 30, 2026 — T1 personal tax return filing deadline (June 15 for self-employed).
What is the RRSP Deadline for 2026?
The RRSP contribution deadline for the 2025 tax year is March 3, 2026. This is the last day you can make contributions to your Registered Retirement Savings Plan and have them count as a deduction on your 2025 T1 personal income tax return.
The deadline falls 60 days after December 31, 2025. Since February 28, 2026 is a Saturday, the deadline extends to the next business day — Monday, March 3, 2026.
Missing this deadline means your contributions can still be made, but they will be applied to the 2026 tax year instead — meaning you'll wait an additional year to claim the deduction.
What is the RRSP Contribution Limit for 2025?
Your personal RRSP contribution limit for 2025 is 18% of your 2024 earned income, up to a maximum of $32,490 — plus any unused contribution room carried forward from previous years.
| Tax Year | RRSP Annual Limit | Deadline |
|---|---|---|
| 2025 | $32,490 | March 3, 2026 |
| 2024 | $31,560 | March 3, 2025 |
| 2023 | $30,780 | February 29, 2024 |
| 2022 | $29,210 | March 1, 2023 |
Your exact personal limit is shown on your CRA Notice of Assessment from last year, or you can check it in CRA My Account online.
How Much Does an RRSP Contribution Reduce My Taxes?
An RRSP contribution reduces your taxable income dollar-for-dollar. The actual tax savings depend on your marginal tax rate — the rate applied to your last dollar of income.
| Province | Income | Marginal Rate | Tax Saved on $10,000 RRSP |
|---|---|---|---|
| Ontario | $90,000 | 43.41% | $4,341 |
| Ontario | $60,000 | 33.89% | $3,389 |
| British Columbia | $90,000 | 40.70% | $4,070 |
| Alberta | $90,000 | 36.00% | $3,600 |
| Quebec | $90,000 | 45.71% | $4,571 |
The higher your income, the more you save with RRSP contributions — because you're pushing income out of a higher tax bracket. Our team calculates the optimal RRSP contribution amount for your specific situation.
Should You Contribute to Your RRSP or FHSA in 2025?
If you're a first-time home buyer, the First Home Savings Account (FHSA) should be considered alongside or instead of an RRSP contribution. The FHSA offers a $8,000 annual deduction limit (lifetime $40,000) with the added benefit of tax-free withdrawals for a qualifying home purchase.
Key comparison:
- RRSP: Deductible contributions, tax-sheltered growth, but withdrawals are fully taxable income (except under the Home Buyers' Plan)
- FHSA: Deductible contributions, tax-sheltered growth, and tax-free qualifying home purchase withdrawals
- TFSA: No deduction on contributions, but all growth and withdrawals are completely tax-free
Our tax advisors help you model the optimal split between RRSP, FHSA, and TFSA contributions for your financial goals.
What If You've Over-Contributed to Your RRSP?
The CRA allows a $2,000 lifetime over-contribution buffer before penalties apply. Beyond $2,000, the penalty is 1% per month on the excess amount. If you've over-contributed, you must file a T1-OVP return. Contact us immediately — our adbvisors can help minimize penalties.