Tax season is about to kick off in Canada, but if you’re hoping to squeeze a little more out of your 2025 return, there’s still one big move you can make.
The RRSP contribution deadline is just around the corner, and any eligible deposits made before then can still be claimed on your 2025 income tax return. For Quebecers, that could mean a noticeably bigger refund, or at least a smaller tax bill.
If you’ve been on the fence about contributing, this is your reminder.
When is the RRSP deadline for 2025?
According to the Canada Revenue Agency, the deadline to contribute to an RRSP for the 2025 tax year is Monday, March 2, 2026. Contributions made between March 4, 2025 and March 2, 2026, can be deducted on your 2025 tax return.
But even if you miss that cutoff, your money will still count toward your retirement savings. You just won’t be able to use it to reduce your 2025 taxable income. Instead, you’d have to wait and claim it next year.
How an RRSP actually lowers your taxes
An RRSP, or Registered Retirement Savings Plan, is a retirement account registered with the CRA. The key benefit during tax season is the deduction.
When you contribute to your RRSP, you can deduct that amount from your taxable income. That lowers the amount of income the government uses to calculate your taxes.
So if you earned $75,000 in 2025 and contribute $5,000 before the March 2 deadline, you’ll be taxed as if you made $70,000 instead.
And that difference can translate into real money.
How much can Quebecers contribute?
Your RRSP contribution limit isn’t the same as everyone else’s. It’s based on your income.
The CRA generally sets your limit at 18% of your previous year’s earned income, up to an annual maximum. For 2025, the maximum RRSP contribution limit is $32,490.
If you didn’t max out your contributions in previous years, your unused room carries forward. That means you may be able to contribute more than just this year’s newly earned room.
You can find your exact RRSP deduction limit in your CRA My Account or on your latest Notice of Assessment.
Be careful not to overcontribute. If you exceed your RRSP deduction limit by more than $2,000, you may be charged a penalty tax of 1% per month on the excess amount.
What kind of refund could you see in Quebec?
An RRSP contribution is a tax deduction, not a refundable credit. It doesn’t automatically give you money back. Instead, it lowers your taxable income, which can reduce the amount of tax you owe. The amount you actually save depends on your marginal tax rate, which is the rate you pay on your last dollar of income.
In Quebec, that combined federal and provincial marginal rate can climb quickly depending on your income. You can see the full provincial rates on the Revenu Québec website.
For example:
If you earn around $60,000 in Quebec, your combined marginal tax rate is roughly 37%. If you earn around $100,000, it jumps to over 41%
That means a $1,000 RRSP contribution could reduce your tax bill by about $370 at the $60,000 income level, and more than $410 at $100,000. The higher your marginal rate, the more powerful each RRSP dollar becomes.
How to claim your RRSP deduction
Your bank or financial institution will issue an official RRSP contribution receipt for any money you deposit. If you contribute in the first 60 days of 2026, your receipt may arrive later in March once the full eligible amount is finalized.
When filing your 2025 tax return, make sure the contribution is reported on line 20800 for RRSP deduction.
If you use tax software with the CRA’s Auto-fill feature, your contributions may already appear automatically. Still, keep your receipts in case the CRA asks for proof. If you’re working with an accountant or tax preparer, make sure they have your RRSP slips.
Other important 2026 tax dates
February 23, 2026: First day to file your 2025 tax return online
April 30, 2026: Deadline to file both federal (CRA) and provincial (Revenu Québec) returns for most individuals
June 15, 2026: Filing deadline for self-employed individuals (balance still due April 30)
This story was adapted from the article “There’s one last thing you can do to boost your 2025 tax refund, but you’ll have to act fast,” which was originally published on Narcity.
