RRSP Withdrawal Tax Calculator 2026
Calculate the withholding tax deducted at source and the actual income tax on your RRSP withdrawal — and see whether you'll get a refund or owe more at filing.
Your Information
Employment, CPP, OAS, pension, etc.
The amount you plan to withdraw
Expected refund at tax filing: $193
CRA withholds 30.00% upfront, but your actual marginal rate on this withdrawal is 29.65%. You'll likely receive a $193 refund when you file.
Withholding Tax
$6,000
30.00% withheld by CRA
Actual Tax
$5,807
29.65% marginal rate
Net After Withholding
$14,000
deposited to your account
Net After Actual Tax
$14,193
true after-tax value
Tax Breakdown
| RRSP withdrawal | $20,000 |
| CRA withholding rate | 30.00% |
| Withholding tax (deducted at source) | −$6,000 |
| Net proceeds (after withholding) | $14,000 |
| Other income (employment, CPP, etc.) | $60,000 |
| Marginal rate on withdrawal (29.65%) | $5,807 |
| Net proceeds (after actual tax) | $14,193 |
| Expected refund at filing | $193 |
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