How the estimates are calculated

Data sources

Federal and provincial brackets come from the CRA, and Quebec’s brackets come from Revenu Québec. Provincial basic personal amounts come from each province’s 2026 TD1 form, and from Form TP-1015.3-V for Quebec. The Quebec abatement comes from the Department of Finance Canada. Each item shows its source and date, and a value that has not been confirmed is marked Estimate.

The calculation

Federal and provincial tax are calculated separately and then added, because their brackets are different. The refund is the tax before the contribution minus the tax after it.

What is included

• Progressive federal and provincial tax rates
• The federal basic personal amount, including the reduction at high incomes
• Provincial basic personal amounts
• The Ontario surtax
• The Quebec federal abatement of 16.5%
• The reduction of the basic personal amount at high incomes in Manitoba (above $200,000) and Yukon (above $181,440)

What is left out

• The Ontario Health Premium
• CPP and EI deductions and credits
• Other deductions and credits, such as those for dependants, tuition and donations
• Other kinds of income
• Alternative minimum tax

Quebec has a separate provincial return. For how RRSP and FHSA contributions are treated there, please check the official guidance.

An example

In British Columbia, with $85,000 of income and an $8,000 FHSA contribution, the combined marginal rate is 28.20%, so the estimated refund is about $2,256.00.

Limit notices

Notices compare what you enter with the public limits. The amount you can actually contribute is shown in CRA My Account.

Updates

The rates are updated once a year, after the new rates are published.

Please note

These are estimates and not tax or investment advice.