RRSP Withdrawal Tax Calculator
Estimate the tax caused by an RRSP withdrawal, the amount your bank withholds, and what may be refunded or still owing at tax time.
Your account & withdrawal amount
CPP, OAS, pension, employment
Affects age credits and RRIF guidance
Affects provincial tax rate
💵Gross Withdrawal
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Before bank withholding
🏦Immediate Cash
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Slide to calculate
🧾Estimated Final Tax
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Slide to calculate
⚖️Possible Refund
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Withholding minus estimated tax
Data sources & methodology — see full methodology · editorial standards
2026 estimate: we calculate ordinary-income tax on your other income plus the withdrawal, then subtract tax on the other income alone. The model includes federal and provincial/territorial brackets, basic and age amounts, Quebec's federal abatement, Ontario surtax and health premium, and standard RRSP withholding tiers. It excludes deductions, spouse/dependent claims, income-type-specific credits, OAS recovery tax, and tax-return adjustments.
Sourced from: CRA — RRSP withdrawals, CRA — Federal tax rates
RRSP withholding is not your final tax bill
Your financial institution withholds a fixed percentage when it pays an RRSP lump sum. Final tax depends on all taxable income for the year. A $10,000, $25,000, or $50,000 withdrawal can therefore produce a refund or additional tax even when the bank applied the correct withholding rate.
$10,000 withdrawal
Usually 20% withheld outside Quebec. Final tax may be lower or higher depending on other income and province.
$25,000 withdrawal
Usually 30% withheld outside Quebec. Part of the withdrawal may cross a federal or provincial bracket.
$50,000 withdrawal
Large withdrawals commonly span several brackets and can also affect income-tested benefits such as OAS.
RRSP, RRIF, province and age considerations
RRSP and RRIF withdrawals are taxable as ordinary income, but RRIF minimum withdrawals have different withholding mechanics and may qualify for pension-related treatment in situations this calculator does not model. Provincial brackets, Quebec rules, Ontario surtax and health premium, age credits, and OAS recovery tax can all change the result.
Frequently asked questions
Is RRSP withholding the same as final tax?
No. Withholding is a prepayment. Final tax is determined from total taxable income and credits when the tax return is assessed.
Why does age change the estimate?
At 65 and older, federal and provincial age amounts may reduce tax. Age also changes whether RRIF conversion and OAS planning are immediately relevant.
Does the estimate include the OAS clawback?
No. OAS recovery tax is disclosed as an important separate consideration because the calculator does not ask how much of other income is OAS.
Can a withdrawal exceed my RRSP balance?
No. The calculator limits the withdrawal to the entered balance and the API rejects larger amounts.
This calculator provides an estimate, not tax advice or a tax return. Actual tax can differ because of deductions, other credits, income composition, prior-year amounts, pension splitting, and CRA assessment rules.