Payroll Deduction Calculator

First-time purchase minimum $250; subsequent purchase minimum $50. Investments to a maximum of $5000 annually are eligible for federal and provincial tax credits.

Taxable Income Level ⁽¹⁾
Contribution frequency
Amount of periodic RRSP contribution	$

With a SaskWorks RRSP Payroll Deduction Plan the employer reduces witholding taxes based on the RRSP deduction and the SaskWorks tax credit. Contributing per pay period can cost as little as per pay period after witholding tax is reduced. Over a year this results in RRSP contributions totaling at a cost of only . Attention employers! If you already have an RRSP payroll deduction plan, simply switching to a SaskWorks RRSP payroll plan is like giving your Saskatchewan employees up to a $1500 tax free raise with no additional money contributed.

This calculator is for illustrative purposes only. Individual circumstances may differ. Please see your financial advisor before investing.

Taxable income is gross income less deductions allowed by Federal and Saskatchewan income tax law.
The RRSP contribution assumes that the investor is within his or her contribution limit.
The Tax Credits are generally available where the investor has tax otherwise payable against which to offset the Tax Credits and also assumes no other LSIF shares have been purchased. The Tax Credits may be required to be repaid if the Common Shares are redeemed within the Hold Period.
The income tax rates are based on the federal and Saskatchewan income tax legislation for 2010 tax tables and are the marginal tax rates for income other than capital gains and dividends for individuals resident in Saskatchewan.
RRSP tax savings result from the RRSP deduction reducing taxable income and are calculated at the marginal income tax rates. RRSP tax savings are not unique to LSVCCs and are available on any RRSP eligible investment, provided the investment is within the contribution limits. Income taxes are payable on the withdrawal of funds from RRSPs.