Based on your total gross annual income, you can determine your marginal tax rate (which ranged from 27.5% and 53.35% on average). The 30% in additional tax savings* you get with the RRSP+ at the Fonds gets added to this percentage. The 30% comes from the 15% in tax credits from the provincial government and the other 15% in tax credits of the federal government. Simply add your tax rate and the RRSP+’s additional 30% to determine your total tax savings.
*The tax credits granted to the shareholders of the Fonds are 15% at the federal level and 15% at the provincial level. Tax credits are capped at $1,500 per fiscal year, which represents a $5,000 purchase of shares of the Fonds de solidarité FTQ.