ramorgan
New Member

How is the withholding tax calculated on multiple RRSP withdrawls throughout the year

 

Seniors and students

CRA has set tax rates for RRSP withdrawals which are as follows:

  • 10% (5% in Quebec) on amounts up to $5,000
  • 20% (10% in Quebec) on amounts over $5,000 up to including $15,000
  • 30% (15% in Quebec) on amounts over $15,000

https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/rrsps-related-plans/making-w...