Tax on a $150,000 RRSP Withdrawal (2026)
Withdraw $150,000 from your RRSP in 2026 and CRA withholds $45,000 immediately (30%) — or $43,500 (29%) if you're in Quebec. Your final tax bill depends on your marginal rate (other income + province).
Withheld at source (outside Quebec)
$45,000
30% of $150,000 — you receive $105,000 cash
Withheld at source (Quebec)
$43,500
29% combined fed + QC — you receive $106,500 cash
CRA Withholding Tiers (why 30%?)
| Withdrawal amount | Outside Quebec | Quebec (fed + prov) |
|---|---|---|
| Up to $5,000 | 10% | 19% (5% + 14%) |
| $5,001 – $15,000 | 20% | 24% (10% + 14%) |
| Over $15,000 | 30% | 29% (15% + 14%) |
Source: CRA S3-F10-C3 and Regulation 103. Withholding is a prepayment — your final tax is your marginal rate, reconciled on your T1.
Per-Province Final Tax (if RRSP is your only income for 2026)
Pure withdrawal scenario — e.g. retiree with no employment or CPP/OAS yet. Assumes 2026 basic personal amount (BPA) shelters the first ~$16,129 federally.
| Province | Withheld | Actual tax | Effective rate | Refund / (Owing) | Net in hand |
|---|---|---|---|---|---|
| Ontario | $45,000 | $38,163 | 25.0% | $6,836.70 | $111,837 |
| British Columbia | $45,000 | $38,433 | 26.0% | $6,567.32 | $111,567 |
| Alberta | $45,000 | $38,410 | 26.0% | $6,590.27 | $111,590 |
| Quebec | $43,500 | $47,596 | 32.0% | ($4,096.31) | $102,404 |
| Manitoba | $45,000 | $45,285 | 30.0% | ($284.51) | $104,715 |
| Saskatchewan | $45,000 | $41,975 | 28.0% | $3,025.39 | $108,025 |
| Nova Scotia | $45,000 | $47,872 | 32.0% | ($2,872.33) | $102,128 |
| New Brunswick | $45,000 | $44,670 | 30.0% | $329.80 | $105,330 |
| Newfoundland and Labrador | $45,000 | $45,429 | 30.0% | ($428.97) | $104,571 |
| Prince Edward Island | $45,000 | $47,070 | 31.0% | ($2,069.81) | $102,930 |
| Northwest Territories | $45,000 | $38,434 | 26.0% | $6,565.84 | $111,566 |
| Yukon | $45,000 | $38,007 | 25.0% | $6,993.13 | $111,993 |
| Nunavut | $45,000 | $35,263 | 24.0% | $9,737.18 | $114,737 |
With Other Income (Ontario 2026)
What a $150,000 withdrawal actually costs when stacked on top of your existing income. Effective rate rises as your marginal rate climbs.
Other income: $0
$38,163
25.0% effective
Withheld $45,000 → refund $6,837
Other income: $30,000
$46,856
31.0% effective
Withheld $45,000 → owe $1,856
Other income: $60,000
$53,099
35.0% effective
Withheld $45,000 → owe $8,099
Other income: $100,000
$58,003
39.0% effective
Withheld $45,000 → owe $13,003
Run the numbers with your exact province, other income, and year: Open RRSP Withdrawal Tax Calculator →
Tax on Other RRSP Withdrawal Amounts
RRSP Withdrawal Tax by Province
Related Calculators
Frequently asked questions
How much tax do you pay on a $150,000 RRSP withdrawal?
CRA withholds $45,000 at source outside Quebec (30%), or $43,500 (29%) in Quebec. At filing you settle up at your marginal rate. With no other income in Ontario 2026, actual tax is $38,163 (25.0% effective).
How much is withheld on a $150,000 RRSP withdrawal?
CRA withholds $45,000 (30%) outside Quebec or $43,500 (29%) combined federal + provincial in Quebec. Tiers: 10%/20%/30% on ≤$5k / $5,001–$15k / $15k+ (doubled to 19%/24%/29% in Quebec).
Is a $150,000 RRSP withdrawal taxable income?
Yes — fully added to your taxable income for the year and taxed at your combined federal + provincial marginal rate. The 30% withholding is a deposit, not the final bill.
Does splitting a $150,000 withdrawal reduce tax?
Splitting $150,000 into several ≤$5,000 withdrawals drops each withholding to 10% (19% in Quebec) — but final tax at filing is identical regardless of splits. Only your cash flow before filing changes. Note: CRA can apply higher withholding if withdrawals are clearly coordinated to game the tiers.