Ontario FHSA & RRSP Tax Refund Calculator 2026
In Ontario, an $8,000 contribution gives a refund of about $2,372.00 on $70,000 of income and about $2,465.30 on $100,000 (estimate).
Estimated result Estimate
- Refund rate
- 29.65%
- Net cost after refund
- $5,628.00
- Combined marginal rate
- 29.65%
- Deduction used
- $8,000.00
- Tax before contribution
- $16,229.75
- Tax after contribution
- $13,857.75
- Federal tax before contribution
- $11,317.73
- Provincial or territorial tax before contribution
- $4,912.02
- Contribution above income (no tax effect)
- $0.00
Limit checks
Estimate for information only, not tax or investment advice. Based on 2026 tax rates. Excludes the Ontario Health Premium, CPP/EI and other credits.
Federal brackets · Source: www.canada.ca · As of: Oct 2026 Estimate
Provincial or territorial brackets · Source: www.canada.ca · As of: Oct 2026 Estimate
Basic personal amount · Source: www.canada.ca · As of: Oct 2026 Estimate
Tax rates by income
| Taxable income | Marginal rate | Average rate |
|---|---|---|
| $30,000 | 19.05% | 9.19% |
| $50,000 | 19.05% | 13.13% |
| $70,000 | 29.65% | 16.83% |
| $85,000 | 29.65% | 19.09% |
| $100,000 | 31.48% | 20.77% |
| $120,000 | 43.41% | 23.21% |
| $150,000 | 44.97% | 27.25% |
| $200,000 | 48.26% | 31.99% |
| $250,000 | 49.82% | 35.43% |
Tax brackets
| Income bracket | Rate |
|---|---|
| Up to $53,891 | 5.05% |
| $53,891 to $107,785 | 9.15% |
| $107,785 to $150,000 | 11.16% |
| $150,000 to $220,000 | 12.16% |
| Over $220,000 | 13.16% |
Source: www.canada.ca · As of: Oct 2026 Estimate
| Income bracket | Rate |
|---|---|
| Up to $58,523 | 14.00% |
| $58,523 to $117,045 | 20.50% |
| $117,045 to $181,440 | 26.00% |
| $181,440 to $258,482 | 29.00% |
| Over $258,482 | 33.00% |
Source: www.canada.ca · As of: Oct 2026 Estimate
Specific to Ontario
Ontario adds a surtax: 20.00% of basic provincial tax above $5,818, plus 36.00% above $7,446.
Provincial or territorial brackets · Source: www.canada.ca · As of: Oct 2026 Estimate