Got your NOA? Here's what
the numbers mean for you.
Enter three numbers from your Notice of Assessment. This educational tool estimates your approximate RRSP tax impact and shows how much contribution room you have in each account — so you can have a more informed conversation with your financial planner.
Your total income is used to look up your approximate marginal tax bracket — this affects how an RRSP deduction is estimated to reduce your tax bill.
An RRSP contribution reduces your taxable income. At an estimated 43% marginal rate, a $1,000 RRSP contribution could reduce the tax you owe by roughly $430 — though your actual result will depend on your full tax situation, credits, and other factors your accountant can assess.
This is your cumulative available RRSP room — the total you could contribute and potentially deduct if you choose to do so.
Look for "Your RRSP/PRPP deduction limit" on page 1 of your 2024 Notice of Assessment. The figure shown is your total available room for the next contribution year (March 2026 deadline). You can also find it in CRA My Account.
Your TFSA room doesn't appear on the NOA — you need to check CRA My Account. Knowing this number helps complete the picture of your registered account room.
Enter your best estimate — the tool will still produce a useful overview. For the exact figure: log into CRA My Account at canada.ca, go to TFSA, then "Contribution room". The 2025 room is updated as of January 1.
Based on your numbers, here is what to know.
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