I withdrew $7500 from my RSP in 2014. They held back 20% tax at that time ($1500). When i plug the numbers into turbo tax it takes an additional $1500 off of my tax return. If I assume that withdrawl is added to the top portion of my income then I should be paying 26% tax on it. By my math I should be paying an additional $450 not $1500. Can someone shed some light?
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