Tax on a $15,000 RRSP Withdrawal in British Columbia (2026)

What you get in hand, what you owe or get back at filing, and how 2026 federal and British Columbia tax on the withdrawal changes with the rest of your income.

Withheld by your bank

$3,000

20% of $15,000

Cash you receive

$12,000

on the day of the withdrawal

Final 2026 tax on it

$0–$4,630

depends on your other income (table below)

If the withdrawal is your only income this year, the tax is $0 (0.0%) and you get $3,000 of the withholding back when you file. Put in your own income in the RRSP withdrawal tax calculator, prefilled with this withdrawal.

$15,000 on top of your other income

The whole withdrawal is added to your taxable income, so the more you already earn, the higher the rate it is taxed at. Other income means employment, pension, CPP, OAS or anything else taxable in 2026.

Other income	Tax on withdrawal	Effective	Marginal	At filing	You keep	Half next year	OAS clawback*
$0	$0	0.0%	14.0%	+$3,000	$15,000	—	—
$20,000	$2,966	19.8%	23.2%	+$34	$12,034	saves $508	—
$40,000	$3,214	21.4%	21.7%	−$214	$11,786	costs $79	—
$60,000	$4,230	28.2%	28.2%	−$1,230	$10,770	—	—
$80,000	$4,230	28.2%	28.2%	−$1,230	$10,770	—	—
$100,000	$4,630	30.9%	31.0%	−$1,630	$10,370	saves $20	$2,250

"At filing" is the withheld $3,000 minus the real tax: + is a refund, − is a balance owing. "Half next year" compares taking $7,500 this year and $7,500 next year, with the same other income both years. *If you're 65 or older and your other income includes OAS, the withdrawal also triggers this much OAS recovery tax.

Need exactly $15,000 in your account?

Withdraw $21,429. The bank withholds $6,429 (30%) and you receive $15,000. The whole $21,429 counts as income, so the tax at filing is on that, not on $15,000.

Decisions that change the bill

Several smaller withdrawals: 3 withdrawals of $5,000 are each withheld at the lowest rate, $1,500 in total instead of $3,000. That only changes cash now: the final tax is the same, so you pay the difference when you file. Institutions can apply the higher rate when the withdrawals are made together.
Splitting across two tax years: the biggest saving here is $508, at $20,000 of other income. A December and a January withdrawal land in different tax years.
If you're 65+ and get the GIS: a single senior whose only other income is OAS ($9,000 a year) would pay $0 of tax on this withdrawal and lose $9,611 of GIS over the next July-to-June benefit year, because the GIS is based on last year's income and RRSP withdrawals count. Together that is 64% of the withdrawal. TFSA withdrawals don't affect the GIS. See OAS and GIS payment amounts.
Buying a first home or going back to school: withdrawals under the Home Buyers' Plan or the Lifelong Learning Plan are not taxed if you repay them on schedule.
A spousal RRSP: if your spouse contributed in this year or the two years before, the withdrawal is taxed in their hands instead. See the spousal RRSP calculator.

$15,000 in other provinces

Tax on the withdrawal with no other income, and with $60,000.

Province	Only income	+$60,000
British Columbia	$0	$4,230
Alberta	$0	$4,551
Ontario	$0	$4,598
Manitoba	$0	$4,988
Quebec	$0	$5,418

Other amounts in British Columbia

Tax on the withdrawal with $60,000 of other income.

$5,000 $1,410
$10,000 $2,820
$15,000 $4,230
$20,000 $5,640
$25,000 $7,050
$50,000 $14,360

Withholding on $15,000 across Canada: tax on a $15,000 RRSP withdrawal.

How this is worked out

Withholding: one withdrawal of $15,000 falls in the middle tier, 10% up to $5,000, 20% up to $15,000, 30% over $15,000.
Tax: 2026 federal and British Columbia brackets and basic personal amounts, single filer, on the withdrawal added to the other income shown.
Age amount: the table is for any age and leaves it out. The 65+ GIS case above includes the federal and provincial age amounts. RRSP withdrawals do not qualify for the pension income credit.
OAS clawback: 15% of net income above $95,323 in 2026, until the OAS is fully repaid at $155,320 (ages 65 to 74).
GIS: a single senior with the full OAS ($762.50 a month at 65 to 74) and this quarter's GIS, up to $1,138.90 a month and nothing once other income reaches $23,112.

Frequently asked questions

How much tax on a $15,000 RRSP withdrawal in British Columbia?

Your bank withholds $3,000 (20%) and pays you $12,000. The final 2026 tax is $0 to $4,630 depending on your other income; if the withdrawal is your only income it is $0, so you get $3,000 back when you file.

How much will I actually receive from a $15,000 RRSP withdrawal in British Columbia?

$12,000 lands in your account: the institution keeps $3,000, the 20% withholding rate for a single withdrawal of this size. To end up with $15,000 in hand, withdraw $21,429 instead.

Will I owe more tax at filing time on a $15,000 RRSP withdrawal?

Only if your other income is high enough. With $0 of other income: $3,000 refund. With $20,000 of other income: $34 refund. With $40,000 of other income: $214 owing. With $60,000 of other income: $1,230 owing. With $80,000 of other income: $1,230 owing. With $100,000 of other income: $1,630 owing. The withholding is a prepayment; your T1 settles the difference at your marginal rate.

Is it cheaper to spread a $15,000 withdrawal over two years?

It can be. Taking $7,500 in December and $7,500 in January saves the most at $20,000 of other income: $508 less tax, because each half is taxed in a lower bracket. The full table above shows the saving at every income level.