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Withdrawals from your RSP are treated as taxable income for that year and are subject to a withholding tax, which range as follows:
Withdrawal amounts | Outside Quebec | Quebec |
---|---|---|
$0 - $5,000 | 10% | 19% |
$5,001 - $15,000 | 20% | 24% |
$15,001 + | 30% | 29% |
RSP withdrawal withholding tax for Non-Residents is 25%
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Tangerine is a trade name of Tangerine Bank, a wholly-owned subsidiary of The Bank of Nova Scotia and a CDIC member in its own right.