Seniors and students

Once you receive your T4RSP slip for your RRSP Withdrawal, you will enter it in TurboTax under the Income section. Then the software will perform the calculations for you and you will see a refund amount based on these calculations.

Be aware that although your income is quite low, you may still have to pay some tax and not receive that entire 20% that was withheld as a refund. This depends on your individual tax situation, what type of credits you are claiming and the province you reside in. 

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