RRSP Withdrawal Tax Calculator — New Brunswick 2026
Calculate withholding tax and actual New Brunswick income tax on your RRSP withdrawal for 2026.
Your Information
Employment, CPP, OAS, pension, etc.
The amount you plan to withdraw
Balance owing at tax filing: $572
CRA withholds 30.00% upfront, but your actual marginal rate on this withdrawal is 34.50%. You'll owe an additional $572 when you file.
Withholding Tax
$6,000
30.00% withheld by CRA
Actual Tax
$6,572
34.50% marginal rate
Net After Withholding
$14,000
deposited to your account
Net After Actual Tax
$13,428
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 (34.50%) | $6,572 |
| Net proceeds (after actual tax) | $13,428 |
| Balance owing at filing | $572 |
RRSP Withdrawal Tax in New Brunswick
New Brunswick residents face the standard federal withholding rates: 10% on amounts up to $5,000, 20% on $5,001–$15,000, and 30% on amounts above $15,000. NB's four provincial brackets are 9.40% (up to $50,957), 14% (up to $101,914), 16% (up to $188,765), and 19.50% above that. There is no provincial surtax in New Brunswick.
For a NB resident with $60,000 of other income withdrawing $20,000 (total $80,000), the combined federal and NB provincial marginal rate is approximately 36.5% (federal 20.5% + NB 16%). The 30% CRA withholding is below this marginal rate, so a balance owing at filing is typical for most New Brunswick residents making large RRSP withdrawals. The 16% NB bracket kicks in at a relatively low threshold of $50,957, so even modest RRSP withdrawals on top of employment income can quickly reach this rate.
New Brunswick's top rate of 19.5% (combined ~52.5% with federal) applies at $188,765 — a level that retirees with multiple income sources including large RRIF minimums, CPP, OAS, and pension income can approach. Spreading RRSP withdrawals over lower-income years, or using a spousal RRSP to split income in retirement, can meaningfully reduce the amount of income taxed at NB's higher brackets.
Frequently Asked Questions
What is the RRSP withholding rate for New Brunswick residents in 2026?
The federal withholding rates apply in New Brunswick: 10% on amounts up to $5,000, 20% on $5,001–$15,000, and 30% on amounts over $15,000. This withholding is remitted to CRA as a prepayment against your final combined federal and NB provincial income tax.
How much New Brunswick income tax will I pay on an RRSP withdrawal?
Your withdrawal is taxed at your combined federal and New Brunswick provincial marginal rate. NB's provincial rates are 9.40% (up to $50,957), 14% (up to $101,914), 16% (up to $188,765), and 19.50% above that. For a resident with $60,000 of other income withdrawing $20,000 (total $80,000), the combined marginal rate is approximately 36.5% (federal 20.5% + NB 16%). The 30% withholding on large withdrawals is below this rate, so a balance owing at filing is typical.
Can splitting RRSP withdrawals across years reduce New Brunswick income tax?
Yes. Spreading RRSP withdrawals over multiple lower-income years — particularly before CPP, OAS, and pension income begin stacking — is the most effective strategy for reducing the NB marginal rate applied to withdrawals. For example, taking $20,000 per year at a 36.5% marginal rate over several years results in less total tax than taking $100,000 in a single year that pushes income into the 19.5% NB bracket (combined ~52.5%).
Looking for a different province? Use the main RRSP Withdrawal Tax Calculator to switch between all provinces and territories.
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