Maxed $40k+ RRSP; tax return of $8xx- did I do something wrong?

[Healthie]

This year I refinanced my house and got $117k out and maxed my RRSP. I made about 93k this year from work. my RRSP contribution was about 40k; should I not have gotten a significantly higher return? The 40k contribution would have put me at a lower tax bracket. I'm filing myself through ufile.

[Mighty Eyebrows]

This year I refinanced my house and got $117k out and maxed my RRSP. I made about 93k this year from work. my RRSP contribution was about 40k; should I not have gotten a significantly higher return? The 40k contribution would have put me at a lower tax bracket. I'm filing myself through ufile.

You can play around with tax software (with and without the RRSP deduction) to see the differences and make sure it matches what you got. For a quick check you can also use the taxtips calculator:

https://www.taxtips.ca/calculators/canadian-tax/canadian-tax-calculator.htm

Did you do your own tax return?

[Healthie]

This year I refinanced my house and got $117k out and maxed my RRSP. I made about 93k this year from work. my RRSP contribution was about 40k; should I not have gotten a significantly higher return? The 40k contribution would have put me at a lower tax bracket. I'm filing myself through ufile.

You can play around with tax software (with and without the RRSP deduction) to see the differences and make sure it matches what you got. For a quick check you can also use the taxtips calculator:

https://www.taxtips.ca/calculators/canadian-tax/canadian-tax-calculator.htm

Did you do your own tax return?

I haven't submitted it yet. I put the money in in Nov '21; so I think I should be getting the tax $ this year. I'll have a peek at the website thank you.